New Construction Boosts Visalia Industrial Park

With virtually no vacant space in the Visalia Industrial Park a spurt of new construction is underway that will make room for both new tenants, local company expansions and relocations in coming months.

If there are few empty buildings to lease, Visalia sports about 1,000 acres of land “zoned and ready to go,” according to Visalia economic development  manager staffer Devon Jones.

Developers looking to encourage companies who might want a location in the Central Valley are building several concrete tilt-up “spec buildings” in Visalia that can be ready for tenant improvements and occupancy in a matter of weeks.

Making new projects feasible, the city has a streamlined permitting process and lots are hooked up to sewer and water. In addition there has been a $130 million investment in roads over the past few years with easy access to Hwy 99 and the rest of California.

We are talking ’speedy delivery’ – not just for goods but for new buildings that will house future distribution and manufacturing hubs.

Visalia’s mid-state location makes it attractive for ground shipping of goods to the Western US, enabling parcels to arrive in one-day to many locations.

Hub Central
None other than United Parcel Service appears to be convinced, having invested in the purchase of 58 acres north Riggin at Plaza  earlier this summer. Sources says UPS plans a phased development to start with – a modular sorting center to replace its current small distribution center on Goshen Ave. Then, a 400,000 permanent complex will be next for UPS – said to be the big company’s future main hub in the Central Valley. Growth around its Fresno facility has boxed them in say real estate sources. Visalia’s ample industrial acreage is apparently the answer.

The land is the first parcel to sell in the Central Valley Logistics Center industrial park on the northwest corner of Plaza and Riggin since it was zoned for development a decade ago.

Screen Shot 2017-11-09 at 12.34.57 PM

 

Another big shipper is making Visalia its hub. Golden State Overnight (GSO) now owned by Britain’s Royal Mail, is building a 63,000sf distribution center at a cost of $2.3 million right now.Royal Mail bought GSO last year for $90 million.

 “If Memphis is the biggest hub for FedEx and Louisville is the main UPS hub  – Visalia is our most important hub for the future” says GSO’s McKinley.

The company has a smaller facility it leases now that has truck docks only on one side, says company VP Bob McKinley. The complex being built by Visalia based American Inc will offer triple the number of cargo doors on both sides with full automation on the conveyor system, he says.

The GSO hub will employ about 70 when it opens and likely double that in some years expects McKinley.

“If Memphis is a the biggest hub for FedEx and Louisville is the main UPS hub  – Visalia is our most important hub for the future” says GSO’s McKinley.

Speedy Construction

Perhaps the most active developer who has long recognized the need to offer new industrial space in Visalia ahead of demand  – is John Brelsford of Fresno who owns Diversified Development Group.

Last summer Brelsford broke ground on a fast-track construction project to build 3 clustered industrial buildings in a matter of weeks along Riggin near VF Corp, completing them – a total of 403,000sf – by late October of this year.

Commuters passing by each morning last month marveled at the rapid progress on construction each day.

Screen Shot 2017-11-09 at 12.39.53 PM

While Mr Brelsford says he can’t reveal prospective tenants he is working with International Paper, who a has major paper cup manufacturing plant here, will use the most northerly building, a 140,000sf space according to the City of Visalia who received tenant improvement plans in recent days.

“They are about ready to move in” says city planner Jason Huckleberry.

A second space is close to being filled as well says Mr Brelsford.

Next Phase Coming 

Because interest has been so brisk Brelsford is not waiting to build more “spec” space. He says he expects to build about 800,000sf beginning next March on 33 acres he owns on the southeast corner of Plaza and Riggin, a few blocks from his other project.

Last year Brelsford acquired another big parcel at Plaza and Riggin – 150 acres from Doe family – now fully entitled and in the city limits at the northwest corner of this same key intersection.The spot is just 1.5 miles from the new Betty Drive interchange on Hwy 99 that is expected to be complete in a few months.

If newcomers make the news, expansion of existing industrial park tenants are the bread and butter of Visalia’s economy.

While some worry that many new distribution companies looking here take larger spaces of source but actually have few employees. But some are both big on their space needs and offer lots of jobs

Consider VF Corp, the international clothing maker, who has a million square foot distribution center on Plaza Drive. VF, maker of Wrangler, Lee Jeans and NorthFace outdoor clothing, employs up to 1,100 people and most of them live within a 10-15-mile radius from the facility says the company.VF has recently completed a $3 million upgrade to their facility and plans more in 2018.

Another industrial park tenant that continues to grow larger is Perfection Pet Foods, a division of  Western Milling, based in Goshen. The pet food maker is building a $6.2 million office and warehouse right now. Owner Kevin Kruse says they are replacing a 100,000sf warehouse a few miles away.”We wont have to move our products across town” from their manufacturing plant, he figures. The new warehouse will house products ready to ship to Walmart and other large customers. Perfection Pet Foods employs about 120  at their growing campus of buildings in the northwest part of the industrial park.

As interest in new buildings grow, the vacated space makes room for others who will likely gobble up this 100,000sf left by the pet food company, for example.

Meanwhile smaller players like local developer Danny Freitas says his various Visalia industrial park spaces are all spoken for and he will now build two new 40,000sf “spec” warehouses for lease, one on Kelsey and one on Sunnyview.

Also in the industrial park, Servall, the big appliance parts and repair company says they will open their new sales and distribution center in Visalia in December 2017 at 2247 N. Plaza Dr., Suite D, in am existing 35,000 sf building – one of the few vacant spots in the Mid-State 99 complex.

The company cited their ability to do one-day shipping of appliance parts to consumers and businesses throughout all of California.The business will employ 20.

Speedy Delivery 

 

Supply-chain management company offers fulfillment center capabilities

LATHROP—Many smaller companies need the capabilities of a large-scale fulfillment distribution center, but don’t have the space or capital of Amazon or other mega-shippers. Many supply-chain management companies help with business conundrum.

One company with local centers just might have the ecommerce solution for many valley businesses without resources.

Dearborn, Michigan-based Hollingsworth is an end-to-end supply chain management company with 28 distribution facilities located throughout the U.S. and two such locations in Tracy and Lathrop.

In 1991, Hollingsworth began by shipping parts for the Ford Motor Company, a relationship that continues to this day. They are the primary packager for the automotive giant.

By taking on multiple clients, Hollingsworth is able to parse out warehouse space, bringing shipping costs down.

“In the Lathrop area we are very much focused on ecommerce and retail and direct-to-consumer,” said Brian Sheehan, sales and marketing manager for Hollingsworth in this region. “We have local companies and companies that are overseas. It depends on the port of entry for their goods.”

Sheehan said many of their customers are manufacturers, and multiple facilities may be used for one client. Increased facilities also helps Hollingsworth offer same day shipping on behalf of its clients to most areas.

“In a shared warehouse, there’s shared costs,” Sheehan said, allowing for the cost savings to be passed onto the client.

Hollingsworth offers solutions to warehousing, fulfillment, packaging, inventory and program management and more, allowing those who use their services to scale their businesses easily without the hassle of dealing with expansion costs.

With the holiday season estimated to be the peak time for sales, Hollingsworth is preparing for the increased traffic. It’s estimated that the holiday rush accounts for 30 percent of annual sales for many retailers.

Merced County inks deal to (maybe) bring in thousands of jobs.

OCTOBER 24, 2017 6:45 PM

Commodities company expanding at port with new conveyor system

November 1, 2017

 

PORT OF STOCKTON — One company is making moves to speed up production and make operations more efficient.

M&L Commodities, Inc., based at the Port of Stockton, is expanding its service to include direct-vessel loading and unloading with new high-velocity conveyor belts.

The new conveyors feature 48-inch wide belts and can telescopically reach 190 feet. Maximum delivery of commodities to and from portside vessels can reach a rate of 2,000 tons per hour.

The belts will help with import operations to the company’s facilities, truck and rail and with export from the facilities directly to vessels via ship loader. The move is part of M&L’s expansion plan for infrastructure using “up-to-date, high technology equipment for more productive and efficient operations,” according to a statement released by the company.

M&L Commodities is a logistics service provider, assisting customers with transportation of goods. The company has more than 50 years of experience in international trade. They have strategically placed their operations for close proximity to railways, major interstate arteries and the Port of Stockton.

Their storage facilities are prepared for food grade commodities and organic warehousing, and they refrigerated services, container loading and unloading, full transport operations, vessel loading and unloading and more.

Commodities company expanding at port with new conveyor system

 

Wonderful Spec Project Underway in Central Valley

The 1 million-square-foot building, which will sit within the 1,600-acre Wonderful Industrial Park in Shafter, Calif., is one of only a few developments of its kind in the market.
4100 Express Ave., Shafter, Calif.
4100 Express Ave. in Shafter, Calif.

The call for premier industrial space in California’s Central Valley is growing louder, and Wonderful Real Estate, formerly Roll Real Estate, is responding with a new project. The company is in the midst of developing a 1 million-square-foot speculative industrial property in Shafter, Calif., roughly 130 miles north of Los Angeles and 100 miles south of Fresno in the Central Valley.

It’s the right time and the right place. “Strengthening market fundamentals, growth of e-commerce and awareness of the Central Valley industrial market has given us the confidence to go spec,” Joe Vargas, president of Wonderful Real Estate Development, said in a prepared statement. WRE is constructing the new building at 4100 Express Ave., within the company’s 1,600-acre, rail-served Wonderful Industrial Park. The project holds the distinction of being one of just a few million-square-foot-plus spec industrial developments currently underway with 40-foot clear height, oversized large truck courts and access to four major U.S. Ports (Los Angeles, Long Beach, Hueneme and Oakland).

4100 Express’s location will provide users with even more than cutting-edge accommodations and coveted transportation infrastructure; it will also offer access to an ample pool of labor that is both qualified and committed. WRE notes that existing tenants at Wonderful Industrial Park consistently record annual labor turnover rates in the low single-digit range.

Central Valley takes center stage

Solid positive net absorption and strong rental growth have characterized the Central Valley industrial market for the last two years, according to a second quarter report by commercial real estate services firm JLL, which spearheads leasing activity at Wonderful Industrial Park. And even in the face of new development, the vacancy rate remains a respectable 5.3 percent and is expected to head downward. There’s something about the Central Valley.

“Demand is coming from primarily big-box users looking to capitalize on real estate costs and outbound distribution. Between super-regional distribution plays and e-commerce distribution the Central Valley is cementing itself as a Tier 1 distribution market within the Southwest U.S.,” Mac Hewett, vice president with JLL, told Commercial Property Executive.

WRE expects 4100 Express to be ready to welcome its first tenants in March 2018.

Image courtesy of Wonderful Real Estate

https://www.cpexecutive.com/post/wonderful-spec-project-underway-in-central-valley/

 

A new industry is beginning to thrive in rural America, with Amazon leading the way

By Paayal Zaveri | Aditi Roy
CNCB

The city of Tracy, California, is flanked by clusters of warehouses on its east and west sides. The names on the buildings are familiar: Amazon, Costco, FedEx, Safeway, Crate and Barrel and others.

Located in California’s Central Valley, Tracy’s proximity to the San Francisco Bay Area has turned it into a prime spot for distribution hubs, and it’s not alone.

With the boom in e-commerce and online shopping, companies have flocked to areas like the Central Valley, the Lehigh Valley in Pennsylvania, central New Jersey and Dallas, Texas, to build their distribution and fulfillment centers. All these regions are close to major metropolitan areas and major roadways. For the residents of these regions, it means new job opportunities as an entire industry around e-commerce takes shape.

Tracy Mayor Robert Rickman said the benefits of this boom are widespread.

“The people who come to our jobs here in Tracy are not just from Tracy, but all throughout the region, and it increases our daytime population and in turn attracts other businesses here – restaurants, retail and commercial,” Rickman said. “It’s a trickling effect.”

Tracy is close to major highways, the Port of Oakland and a nearby airport, making it an ideal location for e-commerce facilities, Rickman said. “The distribution centers and fulfillment centers can ship their goods pretty much anywhere from here in a very short amount of time.”

Over the last five years, fulfillment and distribution centers have created about 10,000 new jobs in San Joaquin County, according to research from Dr. Jeffrey Michael at the University of the Pacific’s Center for Business and Policy Research. In the past, agriculture and food manufacturing were Tracy’s main industries.

City officials expect the growth in fulfillment jobs to continue, largely led by Amazon.

Amazon’s plan to create 100,000 new jobs over the next year has a tangible impact in Tracy; a second Amazon fulfillment center is currently under construction. The existing facility is the largest in California and also runs a management training program, creating some management level positions.

These new centers are much different than traditional warehouses, and require much more manpower, said Richard H. Thompson of JLL, a commercial real estate firm. Jobs here often offer better pay and require more technical skills than more traditional jobs in warehousing and distribution since more precision is needed to meet customers’ orders versus large bulk orders.

An Amazon fulfillment center in Tracy, California

An Amazon fulfillment center in Tracy, California

Don Cunningham, the President & CEO of the Lehigh Valley Economic Development Corporation, says average pay for a fulfillment job in cities in Pennsylvania’s Lehigh Valley is about $15 per hour, much higher than retail or fast food jobs in the region. “This new industry requires a lot of labor right now,” he said.

The economic benefits are pouring into the cities as well. In Tracy, sales tax revenues went up 35 percent, helping the city build parks and improve infrastructure. Large warehouses like Amazon and Walmart also generate a lot of property tax revenue for the cities they’re located in, said John Boyd of The Boyd Company.

Tracy’s not alone. Fresno, another city in the Central Valley of California, has gotten more requests from companies wanting to set up facilities in the last two years than over the past 10 years combined, according to Lee Ann Eager from the Fresno Economic Development Corporation.

“It’s putting thousands of people to work who are either unemployed or underemployed,” she said. “It’s essentially a new industry for people in this region.”

Economic impact continues to grow at Port of Stockton

Central California

Posted Feb 20, 2017
The Recorder
By Joe Goldeen

 

Anyone who travels Interstate 5 past downtown Stockton and looks west is well aware of the Port of Stockton with its massive, odd-shaped structures and, if you’re lucky, an ocean-going ship unloading at the docks.

But it didn’t take much to get lucky in 2016, with 232 ships sailing into the port — the second-highest number in the past six years, according to longtime Port Director Rick Aschieris.

“We’ve really grown to be an important part of the economic foundation of not just Stockton but San Joaquin County and this whole part of Northern California,” Aschieris said.

For many years, the port has stood as the reliable engine of commerce for Stockton, most recently supporting some 5,500 jobs around the county that generate approximately $180 million in salaries and benefits.

After 84 years of serving ocean-going vessels — the SS Daisy Gray was the first to arrive with a load of lumber on Feb. 2, 1933 — the port has served as the city’s window to the world ever since, increasing its trade relationships to more than 55 countries.

The products that come through the port — while typically not those used every day by your average consumer — play a critical role in the region and the entire West. More than 90 percent of all the fertilizer — both dry bulk and liquid fertilizers — used in the agriculturally rich San Joaquin Valley comes through the port.

Another product, cement, had come back strong in the past couple of years.

“In 2014, we had six cement ships. This past year, we had 20,” Aschieris said. “That’s a lot of cement.”

And while the volume of one product — low-sulfur coal — has decreased significantly (down about 1 million tons in the past one or two years), the increased volume in steel imports is filling the void.

“We had more steel ships than anything else this past year; 43 steel ships coming from a variety of places in Asia, primarily Japan and Korea,” Aschieris said.

Mostly, the loads consist of 480-foot-long rails that go directly to a port-based facility operated by Union Pacific Railroad where three of them are welded together to create super-long rails more than four football fields long with just two welds that are shipped out via rail throughout the Western United States.

“That’s a good project that has been operating for over a full year now,” Aschieris said.

Heading outbound, the Valley’s rice farmers shipped just under 160 tons of bagged rice to Japan, about the same as last year but significantly more than two years ago.

The port has continued to work on major infrastructure projects that improve its roadways and rail lines for greater efficiency. That got a major boost recently with the completion of the mile-long extension of the Crosstown Freeway to Navy Drive, taking trucks away from the Boggs Tract residential neighborhood.

It also completed dredging the channel down to 35 feet along the docks on Rough and Ready Island, matching the depth of the Stockton Deep Water Channel for the first time since the port acquired the island from the federal government in 2000.

Aschieris also noted that private investment in the port has not slackened in recent years. Since the economic downturn of the past decade, more than $2 billion in private-sector investment has been made in port properties.

“It’s not dramatic, but it’s positive,” he said.

Continuing that trend, he said he is involved in different stages of negotiating a number of leases that, if they all work out, could add up to another $1.5 billion in new projects at the port over the next four to five years.

Ulta bringing part of its billion-dollar business to Fresno

Central California

The Fresno Bee
BY TIM SHEEHAN
PUBLISHED MARCH 10, 2017

Ulta Beauty and the city of Fresno officially announced Friday that the cosmetics company has chosen Fresno as the site of a large distribution center that will initially employ more than 500 workers and could swell to more than 1,000 employees with seasonal hires during busy periods.

The joint statement issued by the company and the city confirmed what The Bee reported Tuesday about Ulta’s selection of Fresno for a 670,500-square-foot warehouse to be built in south Fresno. Carolyn Sutphen, a spokeswoman for Ulta, said the distribution center is expected to hire an initial workforce of 542 when it opens in the summer of 2018. It will be built at the northwest corner of East and Central avenues.

Ulta is a growing business that last year reported net sales of $4.8 billion.

The company had identified Fresno last fall as its preferred site, but Ulta representatives told the state in November that the firm was also considering sites in Visalia, Bakersfield, Nevada and Utah. The $110 million distribution center will serve 400 stores and handle fulfillment of online orders from throughout the western United States. Ulta has five other distribution centers in Illinois, Arizona, Pennsylvania, Indiana and Texas. The Fresno center will be Ulta’s first and only one in California.

“This is exactly the shot in the arm that Fresno needs to energize our economy and keep our momentum headed in a positive direction,” Fresno Mayor Lee Brand said in the joint statement. “We’re pleased that Ulta Beauty recognizes the value of our location. …”

As a city councilman last year, Brand was the author of the city’s Economic Expansion Act, which provides for rebates of sales and property taxes, along with other incentives, for companies that relocate to or expand in the city to create new jobs for local residents. In November, working under Brand’s act, the Fresno City Council approved a 30-year package of incentives – chiefly a partial rebate of sales taxes – worth up to $18 million to attract Ulta. To qualify for the city’s incentives, Ulta must create the equivalent of at least 500 full-time jobs at the Fresno center within five years. If the company fails to achieve that by the end of 2022, it would have to repay whatever rebates it had received to that point.

Also in November, the Governor’s Office of Business and Economic Development agreed to provide $8 million in California Competes tax credits to Ulta if it chose a site in California, conditioned on the net creation of 542 full-time jobs in the state.

An economic analysis of the Ulta project that was commissioned by the city last year estimated that Fresno stands to realize about $42 million in additional sales and property tax revenue, even after the incentives.

Ulta, based in Illinois, has almost 980 stores in 48 states; in the Valley, the company has two stores in Fresno and one each in Clovis, Visalia, Hanford and Porterville.

“We are pleased to be expanding in Fresno with a new distribution center that supports our company’s growth strategy and brings additional jobs to the community,” Ulta CEO Mary Dillon said in the joint statement. “This will allow us to continue to grow our stores and e-commerce business. …”

Sutphen, the Ulta spokeswoman, said the company will begin posting job openings on its website closer to the completion and opening date.

Company growing

In its financial results released Thursday for the fourth quarter of 2016, Ulta announced that its sales – both in-store and online – have been growing at a significant clip. The company reported more than $1.58 billion in net sales during the quarter, up almost 25 percent compared with the fourth quarter of 2015. Its e-commerce sales grew even faster, up more than 63 percent compared with a year earlier and amounting to $154.9 million for the quarter. For the entire year, online orders represented $345.3 million in sales for Ulta.

While the city and Ulta waited until Friday to make the formal announcement, the company’s choice wasn’t exactly top secret. Clayco, the Chicago-based contractor that will build the distribution center, already has a construction office on the site, and renderings on the company’s website identified Ulta as the tenant for the building. Clayco’s website indicates that construction is expected to be done by the end of 2017.

Additionally, the careers page of Ulta’s website included a job opening for a human resources director for the Fresno distribution center.

Ulta isn’t the only potential big fish for which the city has baited its economic hook. In December, a month after approving the enticements for Ulta, the Fresno City Council approved a similar Economic Expansion Act package of incentives for Golden State FC LLC, a wholly owned subsidiary of online retail giant Amazon.com. That package of incentives, including rebates of sales and property taxes, has a cap of $30 million over 30 years.

Larry Westerlund, the city’s economic development director, said Amazon deemed Fresno its preferred site for a $200 million, 855,000-square-foot e-commerce fulfillment center that would employ at least 750 workers and potentially hire up to 1,750 employees. There is, however, no word on when Amazon may make a decision on the location.

Brand traveled to Seattle late last week to meet with Amazon officials to pitch the Fresno site. The would-be location for that facility is less than a half mile from the Ulta site, in the North Pointe Business Park near Central and Orange avenues, and was formerly under consideration last year by clothing retailer Nordstrom for a distribution center. Nordstrom has put on hold any decision on a center in the Valley.

Organic meal kit service eyes Fresno for distribution center, 356 jobs

Central California

Published on 06/09/2017
Written by Gabriel Dillard and John Lindt 

Green Chef, an organic meal kit service, is eyeing Fresno for a distribution center that could hire up to 356 people. Image via Green ChefA Colorado-based organic food delivery service has its sights set on Fresno for a distribution center that could eventually employ 356 people with an average full-time salary of $30,000.

Green Chef Corp., a subscription meal kit service founded in 2014 that specializes in organically-sourced food, is up for a $2.5 million California Competes tax credit with plans to invest $17.2 million in a Fresno delivery hub, according to the Governor’s Office of Business and Economic Development (Go-Biz).

CT Realty Acquires 345-Acre Industrial Parcel in Stockton, Plans $135MM Build Out

Central California

The Registry
Posted on

CT Realty (CT) has acquired 345 acres of industrial land within the master-planned NorCal Logistics Center in Stockton, Calif., with plans to develop 4.4 million square feet of high-clearance distribution, e-commerce/logistics and advanced manufacturing buildings. The project, which breaks ground this month, includes an unprecedented amount of speculative construction for Northern California.

Valued at $135 million, the first phase of development includes approximately 1.7 million square feet in three buildings, including a 1,122,341-square-foot building that will be the single largest spec building developed in Northern California. Two additional buildings of 388,183 square feet and 186,944 square feet will complete Phase 1. Beyond the planned development, NorCal Logistics Center has sites available for build-to-suit developments ranging in size from 100,000 square feet to more than 1.9 million square feet.

“We view this as a long-term development opportunity to assemble a world-class logistics campus in one of the strongest markets in America,” said Carter Ewing, managing partner of CT Realty. “The dynamics of California’s Central Valley region, with an industrial base of more than 185 million square feet, mirror the favorable activity we have encountered over the last three years in Southern California and other major distribution markets in Dallas, Atlanta and Chicago.”

NorCal Logistics Center, which is already home to General Mills, Fresh & Easy and Fox Head, is located in the heart of California’s Central Valley industrial market and serves an extension of the global logistics supply chain infrastructure directly linked to West Coast ports in Oakland/Stockton, Los Angeles/Long Beach, Portland, Ore., and Seattle/Tacoma, Wash. The project is proximate to key intermodal facilities operated by Burlington Northern Santa Fe and Union Pacific railroads, and is accessible to SR-99, I-5, I-205 and I-580, linking to all major Northern California markets and strategic Western U.S. destinations.

“The evolution of modern logistics infrastructure, including inland ports, sea ports and commercial rail systems, has changed the dynamics of how containerized cargo is distributed nationwide and throughout the world,” added Ewing. “Investing in buildings that are strategically located near this infrastructure is integral to meeting the demands of today’s most progressive logistics users, and this is at the heart of our national strategy. The locational attributes of NorCal Logistics Center give us confidence that this will become one of the premier master planned logistics parks in the entire Northern California market,” added Ewing.

CT and related development partnerships are developing speculative and build-to-suit Class A logistics buildings for some of the largest industrial users in America. The company has acquired or developed 7 million square feet of industrial buildings in the U.S. over the last 36 months, experiencing strong leasing activity from projects that have been well received in their respective markets.

“NorCal Logistics Center represents the calculated expansion of an industrial logistics strategy we began implementing aggressively across the country five years ago,” said J.C. “Watty” Watson, managing partner of CT.

CT has capitalized much of its acquisition and development activity with Diamond Realty Investments (DRI) the U.S. real estate investment arm of Japan-based Mitsubishi Corporation. Both DRI and CT have 25-year histories in development and investment.

“We are delighted to again combine forces with DRI in this exciting new venture,” added Watson. “Together, we have almost 4 million square feet under construction and another 10 million square feet in our development pipeline on land that we own across America.”

The project is designed by Ware Malcomb, a premier architectural design firm with global experience in logistics and distribution facilities. Construction financing is provided by Cal Bank & Trust and Fifth Third Bank.

CT acquired the NorCal Logistics Center parcel from Arch Road, L.P., a partnership controlled by Minnesota-based Founders Properties and represented in the transaction by Darla Longo, Barbara Emmons Perrier, Rebecca Perlmutter, and Michael Kendall of CBRE National Partners. CT was represented by Cushman & Wakefield’s Kevin Dal Porto, Blake Rasmussen, John McManus and Tyler Vallenari, who will provide ongoing leasing, sales and market support services.