STOCKTON, Calif. – Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, recently leased 282,954 square feet at the Stockton Commerce Center, located at 1624 Army Court. Blake Rasmussen, Kevin DalPorto and Tyson Vallenari of Cushman and Wakefield represented Dermody Properties in the lease, with the customer represented by Joe Fabian and Derek Myers of Newmark Knight Frank.
The new customer’s location at Stockton Commerce Center marks its first expansion into the Western Region of the country as they look to serve more markets with two-day shipping. The company plans to add up to 75 jobs at the Stockton Commerce Center location as soon as it is fully operational.
Stockton Commerce Center, now partially leased, currently has 373,022 square feet available. The remaining available space features 64 dock high doors, a 25 to 30-foot clear height, 106 auto stalls,117 trailer stalls and an ESFR fire protection system.
“The building’s location provides tenants with immediate access to I-5 and the shortest possible commute for employees living in Stockton,” said George Condon, West Region Partner for Dermody Properties. “The remaining suite includes approximately 250,000 square feet of paved yard for trailers, cars or materials.”
The property is strategically positioned directly off Interstate-5 and State Highway 4, providing convenient access to State Highway 99. The commerce center is ideal for businesses with international import and export needs as well as those looking to serve the West Coast markets, located 71 miles from the Port of Oakland and just 50 miles from Sacramento.
“The growing Stockton submarket continues to be a high-demand area for companies seeking logistics facilities, which aligns with our strategy of investing in key logistics markets to meet our customers’ needs,” said Douglas A. Kiersey, Jr., President of Dermody Properties. “We’re pleased to welcome our newest customer to the Stockton Commerce Center.”
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 in more than 89 million square feet of logistics space. In addition to its regional office and company headquarters in Reno, Nev., Dermody Properties has regional offices in northern and southern California, Atlanta, Phoenix, Seattle,Chicago and New Jersey.