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11/15/10
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Diamond Pet Food Products recently closed on the purchase of a 332.4k sf industrial property in Ripon, about 70 miles directly south of Sacramento. The property, located at 924 S. Stockton Ave, on the southwest side of Hwy 99, traded for $9 mil, or about $27/sf. It was sold by Neenah Paper Inc.
Diamond Pet Food Products is expected to employ roughly 100 workers at the property, which consists of four buildings situated on roughly 150 acres of land. The space is split between a 200k sf manufacturing building, a 100k sf distribution center and two storage sheds comprising 32.4k sf.
The property features two active Union Pacific Railroad spurs and a 69-kilowatt power substation as well as a contiguous, independently operated gas-fired cogeneration facility. It offers excellent visibility for tenant monument signage on State Route 99, a major transportation artery running throughout the Central Valley.
Bryce MacDonald of Grubb & Ellis represented Neenah. John McManus of Cushman & Wakefield brokered the deal on behalf of Diamond Pet Food Products.
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