WESTCORE PROPERTIES ACQUIRES NEW, 712,130-SF WAREHOUSE DISTRIBUTION CENTER IN PATTERSON, CALIFORNIA
Patterson, CA (Oct. 10, 2018) – Westcore Properties has acquired Pacific Distribution Center, a Class A, 712,130-square-foot warehouse distribution center at 400 Park Center Drive in Patterson, California. Westcore purchased the property from Raleigh, North Carolina-based Keystone Corporation for $53,750,000.
Newly constructed, Pacific Distribution Center features 112 dock doors, 36 feet of clear height and sits on over 34 acres of land. The property can accommodate parking for 356 vehicles and 250 trailers.
“We believe the Central Valley industrial market is poised for prolonged strength,” said Peter Mette, director of acquisitions at Westcore. “Pacific Distribution Center presented the opportunity to acquire a large-scale, Class A, brand-new industrial building and enhance value through our leasing strategy.”
Michael Goldstein and Ryan McShane of Colliers International represented Keystone Corporation in the transaction, while Westcore Properties represented itself.
“Pacific Distribution Center offers direct access to all of the Bay Area, Northern California and major West Coast population centers via Interstate 5,” said Goldstein, executive managing director at Colliers. “It’s a state-of-the-art building surrounded by retail amenities and new, affordable housing. PDC is recently shell complete and ready for immediate occupancy.”
Keystone Corporation completed development of Pacific Distribution Center in August 2018.