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Seefried Properties and its capital companion and actual property funding supervisor USAA Actual Property have bought a 19-acre plot in Tracy, Calif. The sale worth was not disclosed. Plans for the positioning embody the event of a Class A distribution warehouse, anticipated to interrupt floor in late 2023.
Located in Tracy’s Northeast industrial submarket, the speculative workplace and warehouse constructing will comprise 335,157 sq. ft. HPA Structure is in control of design, whereas Kier & Wright is the civil engineer for the upcoming facility. Plans for the commercial constructing embody trailer parking, automotive parking, 36-foot clear heights, ESFR sprinklers and LED lighting.
Mike Goldstein and John Steinbuch with Colliers represented the client within the deal and can deal with leasing efforts on the new property.
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In ready remarks, Jason Quintel, senior vice chairman of Seefried’s Western Area, mentioned that the positioning was one of many final remaining plots of land on the market within the east Tracy submarket. The realm is thought for being a distribution sizzling spot within the Central Valley.
The positioning is situated on the northwest nook of Grant Line Street and Chrisman Street, with entry to interstates 205, 5 and 580, providing tenants quite a lot of transportation routes to the Western U.S. and bigger Bay Space. The Port of Oakland is a few 54 miles west of the land, whereas Sacramento is roughly 65 miles north. The Union Pacific and Burlington Northern Santa Fe Intermodal amenities are in shut proximity to the anticipated mission.
In November, Seefried begun work on one other distribution facility in Savannah, Ga. The logistics heart, anticipated to comprise 5 build-to-suit buildings starting from 252,000 to 1.4 million sq. ft, is rising on 287 acres. Completion is anticipated for the tip of 2023.
