Westcore Properties has acquired Pacific Distribution Center, a Class A, 712,130-square-foot warehouse distribution center in Patterson, CA. Located at 400 Park Center Drive, Westcore purchased the property from Raleigh, North Carolina-based Keystone Corporation for $53,750,000.
The newly constructed Pacific Distribution Center features 112 dock doors, 36 feet of clear height and sits on over 34 acres of land. The state-of-the-art facility can accommodate parking for 356 vehicles and 250 trailers. Pacific Distribution Center is surrounded by retail amenities and new, affordable housing. It also offers easy access to the San Francisco Bay Area, Northern California, and major West Coast cities via Interstate 5. Keystone Corporation completed construction on the shell of Pacific Distribution Center in August 2018.
In the transaction, Westcore Properties represented itself while Michael Goldstein and Ryan McShane of Colliers International represented Keystone Corporation.
“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