Dermody Properties starts construction on 622,726 square feet in N. California
Dermody Properties, a national industrial real estate owner-operator headquartered in Reno, Nev., recently announced it will develop a 622,726-square-foot industrial facility in Lathrop, Calif. The state-of-the-art facility, known as LogistiCenterSM at Lathrop, is located at 2131-2301 E. Louise Ave. John McManus, Executive Vice President at Cushman & Wakefield, brought the opportunity to Dermody Properties. McManus, John Coons and Mark Dowling of Cushman & Wakefield are representing the development on behalf of Dermody Properties.
Located in the heart of northern California’s Central Valley, LogistiCenterSM at Lathrop is ideally suited for warehouse and distribution operations. The facility is strategically situated in San Joaquin County, 1.5 miles from Interstate 5 and only 12 miles from the Port of Stockton. The county is surrounded by the Bay Area, Stockton and Sacramento metro areas, and serviced by the Port of Stockton, Union Pacific Railroad, Burlington Northern Santa Fe Railroad and the Stockton Metropolitan Airport. The site is in a highly accessible and desirable location for e-commerce, manufacturing and distribution companies.
“Lathrop is a perfect fit for one of our LogistiCenterSM developments,” said George Condon, Partner, Dermody Properties West Region Office in a press release. “Future customers will benefit from an outstanding transportation system, and the facility’s prime location in the Central Valley. We look forward to beginning construction on LogistiCenterSM at Lathrop and are continuing to pursue additional acquisition and development opportunities in the Greater Bay Area.”
Dermody Properties has commenced construction and expects the project to be complete in May 2017. Upon completion, LogistiCenterSM at Lathrop will feature 36-foot clear height, 96 dock doors, 126 trailer parking stalls and 329 car parking stalls with the possibility of additional parking for e-commerce operations.
“We are excited to be developing in northern California and to announce our first investment in the Central Valley,” said Douglas A. Kiersey, Jr., President, Dermody Properties in a press release. “Dermody Properties is actively seeking development opportunities in both southern and northern California. LogistiCenterSM at Lathrop is consistent with our strategy of investing in key distribution markets with a high demand for modern industrial facilities and a diverse, well-established transportation infrastructure.”
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