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7/01/19
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24Seven Enterprises recently inked a long-term lease for 405k sf of warehouse/distribution space at North Bay Logistics Center in Vacaville, a NoCal city off I-80 roughly midway between San Francisco and Sacramento. 24Seven Enterprises, the parent company to VINGO LLC and Pack n' Ship Direct, will use its new facility to house the operations for the two business lines.
Owned by LDK Ventures, North Bay Logistics Center is located at 700 Crocker Dr and features more than 843k sf of contiguous warehouse in Vacaville, a growing distribution hub, and ranks among the largest single-building distribution facilities in Northern California. North Bay Logistics Center sits on 124 acres along I-505, which also features an additional 600k sf of planned warehouse. Serena & Lily occupies the remaining 434k sf in the existing building. LDK—with PCCP LLC as an equity partner—acquired North Bay Logistics Center in October 2017.
Officially merging last November, VINGO just announced in June that the teams of Pack n’ Ship Direct and VINGO, both leaders in the wine fulfillment space, are now fully integrated. Though they service different clients, they have also partnered together on various projects. Pack n’ Ship Direct’s focus has been on “white glove” service for wineries in California, Oregon and Washington. VINGO’s focus was with high-volume, high-growth, e-commerce clients who require a more nationwide presence. 24Seven Enterprises sited being able to provide greater economies of scale and a broader portfolio of services as two main catalysts for the union.
Brooks Pedder, SIOR, John McManus, CCIM, and Tony Binswanger, SIOR with Cushman & Wakefield represented the landlord in the transaction. Pedder along with Scott Bertrand, also of Cushman & Wakefield, repped the tenant. Terms of the lease were not disclosed.
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