Dermody Properties Acquires 14 Acres in Vacaville, Calif. for new LogistiCenter℠
Dermody Properties announced its purchase of 14 acres on Icon Way in Vacaville, Calif. LogistiCenter℠ at Vacaville will feature 252,160 SF of Class A space for industrial/logistics tenants. Groundbreaking is scheduled to occur in October 2018 and completion is anticipated in June 2019.
The facility will feature 36’ clear height as well as extra trailer and car parking to accommodate e-commerce companies.
“Class-A buildings of this size with room for trailer storage are difficult to find and valued by both warehouse/distribution and e-commerce users,” said George Condon, West Region partner for Dermody Properties. “It is our first investment in the Solano County submarket, which we believe is an outstanding location for quick access to the greater Bay Area and to an exceptional work force.”
LogistiCenter at Vacaville℠ is midway between the San Francisco Bay Area and the Sacramento markets. The location provides easy access to both I-550 and I-80.
Jason Ovadia of JLL was the broker for Dermody Properties for the land transaction and it was facilitated by Tom Schaal of Schaal Realty Advisors.
“Our partners in Vacaville provided us with this excellent opportunity,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “This LogistiCenter is consistent with our strategy of investing in markets which are attractive to our logistics customers and in particular, markets which are land constrained.”
LogistiCenter℠ is a national trademark brand, owned and developed by Dermody Properties. It represents the firm’s business philosophy of developing Class A distribution facilities that meet the supply-chain requirements of the most innovative companies. All LogistiCenter℠ facilities are designed to meet best practices in sustainable design and construction, and incorporate building features, such as additional clear height and extra trailer and car parking, that enable companies to execute their operations more effectively and efficiently.
Dermody Properties has a number of developments in progress throughout the United States. It continually seeks additional distribution, e-commerce and manufacturing sites for development as well as buildings for acquisition.