October 11, 2018
San Diego-based Westcore Properties acquired Pacific Distribution Center, a 712,130-square-foot Class A warehouse distribution center in Patterson, CA, a city 80 miles east of San Jose along Interstate 5. The property was purchased from Raleigh, NC-based Keystone Corporation for $53.75 million.
Newly-constructed at 400 Park Center Dr., the facility features 112 dock doors, 36 feet of clear height and sits on more than 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.”
Colliers International’s Michael Goldstein and Ryan McShane represented the seller, while the buyer was self-represented.
For comments, questions or concerns, please contact Dennis Kaiser