FOR IMMEDIATE RELEASE                            

CONTACT:      

Tim Pryor, President                      

Mid Cal Industrial Properties          

209-484-6066  



Mike Ammann,

San Joaquin Partnership

209-956-3380                                    

DATE:  July 19, 2016

Dermody Properties Announces new spec building in Lathrop

Lathrop, CA – Mid Cal Industrial Properties and Cushman and Wakefield have confirmed the close of escrow on a 32.3 acre industrial site in Lathrop destined to be a 627,620 square foot distribution/logistics facility.

Mid Cal Industrial President Tim Pryor says the deal was done in cooperation with the buyer’s broker John McManus of Cushman & Wakefield’s Oakland office. 

“With the vacancy rate hovering at an historically low rate of +/-3%, this building should be very well-received by the market at this time”, says Pryor.

This is the latest announcement in what is being call a “boom” in industrial space. The San Joaquin Partnership announced these figures last week:

Developers have completed 6.7 million square feet of new industrial space since 2013 creating 5.294 jobs, and there’s another 6.6 million currently under construction or in planning including Amazon. The company announced it would lease a 1 million square foot building in Tracy.

This will allow business owners to make quick decisions when they look to expand or move.

“I’ve never seen anything like it,” commented Brad Ecker, a partnership client administrator. “We’ve got an explosion going on right now.”

Both Mid Cal Industrial and Cushman and Wakefield are investors in the San Joaquin Partnership.