Dalfen Industrial Acquires Stockton Industrial Property

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Jun 14, 2021, 09:14 ET

DALLAS, June 14, 2021 /PRNewswire/ -- Dalfen Industrial closed a Northern California acquisition with the purchase of Pock Lane Logistics Center at 4212 Pock Lane in Stockton, CA. The 55,200 square foot building was built in 1995 and is 100% occupied by KMM Corp.

The industrial property is located in a great last mile location with close proximity to both Hwy. 99 and I-5 as well as multiple intermodals and Stockton Metropolitan Airport (an Amazon air cargo hub). This opportunity was sourced off-market through a relationship with the broker Mike Goldstein of Colliers International and was purchased below replacement cost with rents 25-30% below market. The market widely surpasses the national average in both population and household growth.

"Pock Lane Logistics Center is an exceptional property and a welcome addition to our west coast portfolio," said Rich Weiss, Market Officer at Dalfen Industrial. "Stockton is a major west coast distribution hub with same-day delivery capabilities to nearly 46 million people between San Francisco, Sacramento, Los Angeles, San Diego, and Las Vegas, and all the cities in between."

"Adding west coast industrial assets is crucial to our growth strategy and the ability to provide last mile distribution facilities in the major U.S. markets." said Sean Dalfen, President and Chief Investment Officer at Dalfen Industrial. This is one of several west coast acquisitions Dalfen will be announcing over the next few weeks.

About Us

Dalfen Industrial is one of the nation's largest buyers and developers of industrial real estate and is a leader in the last-mile property sector. Their investment focus is on strategically located urban infill warehouses and distribution buildings. Dalfen currently owns and operates millions of square feet of premier industrial properties throughout the United States.

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SOURCE Dalfen Industrial