FAIRFIELD, Calif. — Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the acquisition of 49 acres in the North Bay which will be developed into five buildings totaling more than 700,000 square feet of logistics space. Known as LogistiCenter℠ at Fairfield, groundbreaking is expected later this year with delivery in Q3 2022.
“Fairfield is one of the most business-friendly cities in the Greater Bay Area,” said George Condon, West Region Partner at Dermody Properties. “The labor pool is one of the strongest in the region and rental rates are approximately 40% less than rental rates along the 880-Corridor.”
All five buildings are available for pre-leasing. Matt Bracco, Glen Dowling and Chris Neeb of JLL will represent Dermody Properties in all leasing activity.
The industrial park, located at Beck Avenue and Cordelia Road, will feature five buildings ranging from 82,620 square feet to 259,200 square feet. Highlights include 32’-36’ of clear height, at least 50’ x 50’ column spacing and ample car and trailer parking. Each building will be equipped with an ESFR fire protection system and accommodate between 14 and 38 dock high doors.
The San Francisco, Oakland and Sacramento International Airports are located within a 60-mile radius, along with the Ports of Richmond, Oakland and Stockton. The site offers direct access to and is less than half a mile from Highway 12, and Interstate 80 is within two and a half miles of the property.
“At Dermody Properties, our strategy is always customer-focused and includes sourcing and developing the best space for their needs,” said Tim Walsh, Partner and Chief Investment Officer at Dermody Properties. “LogistiCenter℠ at Fairfield is in an ideal location that offers excellent proximity for a last-mile facility and a strong concentration of industrial labor.”
For more information on LogistiCenter℠ at Fairfield, 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 more than $6.2 billion of total capital across all platforms nationwide, having acquired and developed approximately 100 million square feet of logistics and industrial facilities. 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.