Dermody Properties Acquires Northern California for LogistiCenter℠ at West Sacramento
Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired 22.15 acres of land at 2921 and 2925 Ramco St. in West Sacramento, Calif. to be developed into LogistiCenterSM at West Sacramento. The two-building development is expected to be completed in the first quarter of 2022.
Building one will total 102,500 square feet and will be divisible to 25,000 square feet, and feature a 32-foot clear height, 25 dock high doors, two to four drive-in doors, 114 car parking stalls and 11 trailer stalls. Building two will total 284,580 square feet and will be divisible to 80,000 square feet, and offer a 36-foot clear height, 46 dock high doors, two to four drive-in doors, 197 car parking stalls and 44 trailer stalls.
“Sacramento continues to attract companies serving the western United States. Companies are drawn to the region’s strong workforce and affordable rental rates relative to the Bay Area,” said George Condon, West Region Partner at Dermody Properties. “West Sacramento is the best-located submarket for industrial users. This property is one of the last remaining parcels available in West Sacramento for heavy industrial and manufacturing.”
Mike Zimmerman and Sean Merold of JLL presented the opportunity to Dermody Properties and will be the leasing brokers for the property.
LogistiCenterSM at West Sacramento is located in the Southport Industrial Park, a 650-acre, master-planned business park. The location provides direct access to Interstate-80, Interstate-5 and Highways 50 and 99, allowing for convenient access to Sacramento International Airport and Downtown Sacramento, and a direct route to the Greater Bay Area. Amazon, Nor-Cal Beverage, DBI, Bogle Vineyard and Old Dominion Trucking have already leased or purchased buildings in the Southport Industrial Park.
The location of the property also provides access to multiple population hubs with over 2.2 million people residing within a 45-minute drive of LogistiCenterSM at West Sacramento.
“As Sacramento’s economy continues to diversify because of the industrial market demand, finding quality land to develop new Class-A warehouses like LogistiCenterSM at West Sacramento is a rare opportunity, but one that is a priority for Dermody Properties and our customers,” said Tim Walsh, Partner and Chief Investment Officer at Dermody Properties. “There has been high demand for industrial space over the last several years and we anticipate seeing continued growth for the region.”
LogistiCenterSM, a nationally trademarked brand owned and developed by Dermody Properties, represents the company’s business philosophy of developing Class-A distribution and logistics facilities that meet the supply-chain requirements of the most innovative companies.
For more information on LogistiCenterSM at West Sacramento, please visit the Dermody Properties website:
About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested in more than 89 million square feet of industrial space. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey. For more information visit www.Dermody.com.
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