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9/26/22
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In a NoCal logistics lease, DCG Fulfillment inked a deal for 306.4k sf of space in Lathrop, about 10 miles south of Stockton. The space is part of a 610k sf industrial warehouse located at 3645 W. Yosemite Ave.
The facility is within Phelan Lathrop Gateway, a multi-phase industrial park in proximity to the Oakland port. Building features include approximately 3.4k sf of office space, 110 dock-high doors, four grade-level doors, 36-foot clear height, ESFR sprinklers, 4000-amp power and parking for 364 automobiles and 130 truck trailers.
The property is situated on Highway 120 in Lathrop, approximately 25 miles east of the San Francisco Bay area. The location provides immediate access to Interstate 5, providing connection to major logistics and transportation locations along the West Coast including the BNSF and UP Intermodal Facilities, four regional international airports and ports in Stockton, Oakland and Sacramento.
Mark Kegans, SIOR, Ron Washle, SIOR, and Joe Fabian with Newmark represented DCG Fulfillment, a family-owned third-party logistics provider based in California’s Inland Empire. This transaction brings DCG’s total footprint to more than 3.7 msf.
“As the Inland Empire’s supply tightens and prices rise, some warehousing companies are beginning to explore alternative markets such as the Central Valley, Lancaster/Palmdale, Phoenix and Las Vegas. The Lathrop location is an excellent fit for DCG,” commented Kegans.
The national industrial market has remained resilient despite recent economic and geopolitical headwinds, according to Newmark Research. For the fifth consecutive quarter, national industrial absorption topped 100 msf. The persistent imbalance between demand and new deliveries has pushed vacancy down to 3.7%, likely a cyclical low. Demand remains strong for industrial space with absorption continuing to outpace deliveries. Over the coming quarters, the deficit between net absorption and deliveries is likely to tighten and reverse as consumer demand softens and construction deliveries rise, given the record-high construction pipeline.
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