Subjects: RLE, CXP
Dalfen Industrial Continues California Portfolio Expansion
DALLAS, March 29, 2022 /PRNewswire/ -- Dalfen Industrial continues its California expansion with the purchase of Otay West Logistics center at 6800 Gateway Park in Otay Mesa, CA ? a suburb of San Diego and Stockton Supply Chain Center III at 2230-2248 Stagecoach Rd. in Stockton, CA.
Otay West Logistics Center, is a 62,875 square foot industrial property in San Diego, CA. Built in 2005, the property features 24' clear heights, a ±170' truck court, 15 dock-high doors, 4 drive-in doors and ample parking. The property was acquired through a relationship with a local broker (Rob Hixson of CBRE) and is 100% leased to DHL. The area is full of notable tenants including companies like Fedex, Amazon, Kraft, Honeywell, Bose, Panasonic and Costco.
This location is situated two miles from the 905 freeway, which provides access to both I-5 and I-805 freeways to the west as well as SR-125 and the Otay Mesa Port of Entry to the east. Proximity to the Otay Mesa Port of Entry, the largest commercial land port of entry, and the trade zone are distinct attractions to the area allowing tenants to move product over the border efficiently and realize significant savings, and serves as reliable source of labor. The property is also within 15 minutes of the Port of San Diego, 20 minutes of San Diego International Airport, and near both rail transportation.
Stockton Supply Chain Center III is Dalfen's 5th acquisition in East Bay over the last year. It is a 2-building, 121,280 square foot property. It is 100% occupied with the largest tenant, Fairview Distribution, entering a short-term sale-leaseback. This opportunity was sourced off-market through a relationship with Mike Goldstein, Ryan McShane and Alex Hoeck of Colliers International.
The property is located in the East Bay's Central Valley, which is a major west coast distribution hub and like other California markets continues to benefit from strong rent growth.. Stockton Supply Chain Center III is in close proximity to both Hwy. 99 and I-5 as well as the Port of Stockton, multiple intermodals, and Stockton Metropolitan Airport (an Amazon air cargo hub). In addition to the great last mile location, the asset benefits from the Stockton area's strong workforce with a population increasing nearly 10% faster than the national average. Notable tenants in the area include Amazon, Fedex, Kraft Foods, and General Mills.
"Adding Stockton Supply Chain Center III and Otay West Logistics Center to our California portfolio provides Dalfen with a two more major last mile locations in key west coast markets," said Rich Weiss, Market Officer at Dalfen Industrial. "Both markets possess unique supply-demand dynamics and are favorably positioned to service the local economy as well as act as major west coast distribution hubs with same-day delivery capabilities to ±46 million."
"With these acquisitions, we have purchased 7 assets in California over the past year and intend to continue significantly expanding our portfolio in critical metro markets throughout the state," said Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial.
Dalfen Industrial sources and operates its west coast assets from its offices in the Bay Area, Denver, and Phoenix.
Company Info
Dalfen Industrial is one of the nation's largest buyers and developers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen, currently owns and operates close to 40M feet of industrial properties across the country.
Media Contact:
[email protected]
SOURCE Dalfen Industrial
These press releases may also interest you
|
News published on and distributed by:
