Sunday, October 15, 2017

HFF announces $16.08 Million joint venture equity for industrial development in northern California


 
Ryan Martin
SAN FRANCISCO, CA –– Holliday Fenoglio Fowler, L.P. (HFF) announces $16.08 million in joint venture equity for the development of Pacific Distribution Center, a 712,130-square-foot, Class A industrial development in the northern California community of Patterson.

The HFF team worked on behalf of the developer, Keystone Corporation, to arrange the joint venture with WPT Capital Advisors.

The $44.7 million state-of-the-art cross-dock project will feature 36-foot clear heights, 112 dock-high loading doors, 257 truck/trailer stalls, 360 auto stalls, 185-foot truck courts and office finish to suit. 

Situated on a 34.56-acre land site at 400 Park Center Drive, Pacific Distribution Center is in the Central Valley industrial market, one of the strongest distribution and logistical hubs in California.  The property has immediate access to Interstate 5 and near Interstates 205 and 580 in addition to Highways 130 and 99. 

The Port of Oakland and the BNSF/Union Pacific Intermodal Facility are within 70 miles of the property, and four international airports – San Jose International Airport, San Francisco International Airport, Oakland International Airport and Sacramento International Airport – are within 90 miles.

Scott Pertel
The HFF investment sales team included managing directors Ryan Martin and Anthony J. Brent together with senior managing director Scott Pertel.

“The joint venture of the Pacific Distribution Center project comes at a time of strong leasing velocity and an extremely limited supply of large blocks of institutional-quality space,” Martin said. 

“This Class A industrial development will be in one of the preeminent master-planned parks, Keystone Pacific Business Park, which provides users faster access to the ports than virtually all the other central valley submarkets and is in part why Amazon, Restoration Hardware, Grainger, CVS and Kohl’s among others have chosen this location.”

Holliday Fenoglio Fowler, L.P., acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740.


For more information on this press release, please contact:

Olivia Hennessey
 Public Relations Specialist
 9 Greenway Plaza Suite 700
 Houston, Texas  77046
 T: 713-852-3403


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