(EDITOR’S NOTE: According to sources familiar with the deal, the property traded for $51.5 million. The asset, known as the Lathrop Industrial Complex, is located at 17100 South Harlan Rd. An offering memorandum obtained by The Registry shows that Colliers’ Mike Goldstein, Ryan McShane, Gregory O’Leary and Greig Lagomarsino were marketing the property on behalf of Vertical Ventures.)
DALLAS– Dalfen Industrial has acquired a 417,600 square foot industrial building in Lathrop, CA – a submarket within East Bay’s Central Valley. The opportunity was sourced off-market and is 100% occupied with an additional 10.85 acres of prime developable land.
The property has a strategic last mile location with close proximity to I-5 as well as the Port of Stockton and the Union Pacific and BNSF Railroads. This location offers access to over 839,000 people within a 30-minute drive with a population that is growing at a rate 47% faster than the national average. Other companies in the area include Home Depot, Wayfair, Tesla, Amazon, DHL and Kraft.
“Strong growth dynamics in this region have resulted in increasing industrial demand, making this a great addition to our west coast portfolio,” said Rich Weiss, Market Officer for Dalfen. “The Central Valley is a major west coast distribution hub with same-day delivery capabilities to nearly 46 million people between San Francisco, Sacramento, Los Angeles, San Diego, and Las Vegas, and all the cities in between.”
“This acquisition exemplifies our continued focus of adding strategically located west coast industrial assets to our portfolio in order to bolster our last mile fulfillment center footprint in the region” markets.”said Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial. In 2021, Dalfen Industrial has acquired and developed $2.3 billion in industrial properties.
Dalfen Industrial is one of the nation’s largest buyers 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.