Ridgeline Property Group to Develop Speculative 381,600 SF Tracy Pescadero Distribution Center

Tracy Pescadero

[EDITOR’S NOTE: The development cost of the project is $20 million. Part of the project’s funding will include a construction loan from an un-named lender.]

Tracy, Calif., August 3, 2015 – Ridgeline Property Group (RPG) announced today that it will team with investment partner LaSalle Investment Management (LaSalle) to develop Tracy Pescadero Distribution Center, a 381,600-square-foot, Class A regional distribution facility located in Tracy, Calif., in the Central Valley industrial market.

The 19.46-acre site is less than one mile from Interstate 205, an east-west route connecting to Oakland and San Francisco, and it provides easy access to the regional transportation corridors serving the major markets of the Western U.S.

Construction is scheduled to begin in October 2015, with completion expected in May of 2016. Tom Davis, President of Lee & Associates-Central Valley Inc and Darren McFadden, also with Lee & Associates will market the property for lease.

“Tracy, California, is the best distribution location in the Central Valley, and the Tracy Pescadero Distribution Center will provide much-needed Class A space for modern distribution operations,” said Jim McLaughlin, Partner with Ridgeline Property Group. “There is virtually no availability of Class A space greater than 200,000 square feet in the Central Valley. In addition to providing bulk space, this 381,600-square-foot facility will offer the option of either a rear-load or front-load configuration, depending on the needs of the tenant. The flexible design also enables the building to be divided into three separate spaces with front offices.”

Added Paul White, Managing Director at LaSalle Investment Management, “We’re very pleased to partner with Ridgeline Property Group on Tracy Pescadero Distribution Center. LaSalle has teamed with the principals of RPG on numerous successful industrial projects in the U.S., and the strong demand for high-quality, Class A distribution space in the Central Valley makes this a very favorable time to develop this project.”

Some of the world’s leading consumer product companies, retailers and logistics companies have established distribution operations in the Northeast Industrial Specific Plan Area of Tracy, Calif., including The Home Depot, Kuehne + Nagel, Amazon, Kellogg’s, Crate & Barrel, PepsiCo and Best Buy.

“We’re thrilled to develop our first project on the West Coast in partnership with LaSalle. We look forward to offering state-of-the-art distribution space in this strategically important industrial market,” said Greg Thurman, CEO of Ridgeline Property Group.

Located at 1700 East Pescadero Avenue, the distribution facility will feature 32-foot clear heights, 57 dock-high doors, two drive-in doors, a 185-foot truck court, 92 trailer parking spaces, 317 auto parking spaces, and Early Suppression Fast Response (ESFR) fire sprinklers.

In addition to providing convenient access to I-205, I-5, I-580 and Highway 99, the site is located in close proximity to the Union Pacific and Burlington Northern Santa Fe intermodal facilities.

About Ridgeline Property Group
Ridgeline Property Group is a commercial real estate development and investment company operating throughout the United States. Headquartered in Atlanta, the firm has a particular focus on the acquisition, development and management of high-quality industrial properties in strategic markets. RPG’s regional partners have more than 125 years of combined experience in the commercial real estate industry and have developed in excess of 115 million square feet of space in more than 30 states.

About LaSalle Investment Management
LaSalle Investment Management is one of the world’s leading real estate investment managers with approximately $56.0 billion of assets under management of private and public real estate property and debt investments. LaSalle’s diverse client base includes public and private pension funds, insurance companies, governments, corporations, endowments and private individuals from across the globe. Managing capital for institutions and private investors all over the world, LaSalle sponsors a complete range of investment vehicles including separate accounts, open- and closed-end funds, public securities and entity-level investments. LaSalle is an independent subsidiary of Jones Lang LaSalle (NYSE: JLL), one of the world’s largest real estate companies.