Dalfen Industrial announced the acquisition of two Northern California Industrial properties, Las Positas Logistics Center and Stockton Supply Chain Center II. With these acquisitions, Dalfen has now added 3 Northern California buildings to its portfolio in the past 2 months.
Las Positas Logistics Center, located in Livermore, CA, is a 106,700 square foot, front-load distribution building. It has excellent last mile fundamentals with its close proximity to I-580, I-80, I-680 and I-880, affording access throughout the East Bay, as well as to downtown San Francisco, the Port of Oakland, and Silicon Valley/San Jose.
Located in California’s Central Valley, a major west coast distribution hub, Stockton Supply Chain Center II totals 50,400 square feet. The property is in close proximity to I-5 and Hwy. 99, which providing same-day access to nearly 46 million people (in San Francisco, Sacramento, Los Angeles, San Diego, Portland and Seattle).
“Las Positas Logistics Center and Stockton Supply Chain Center II are great additions to our growing west coast portfolio. Both acquisitions were sourced off-market and purchased below replacement cost,” said Rich Weiss, Market Officer at Dalfen Industrial. “Both markets are demonstrating healthy fundamentals. These trends are poised to continue driven by robust tenant demand due to favorable access to strong labor pools and relatively lower rents than competing NorCal markets.”
“Adding strategically located Northern California properties aligns with our growth strategy to provide last mile distribution facilities in key west coast markets.” said Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial.
Dalfen Industrial, continues to be one of the most active industrial players having added over $2.2 billion of properties to their portfolio in the past 18 months.
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 millions of square feet of premier industrial properties throughout the United States.