Dalfen’s Pock Lane Logistics Buy Dovetails Into Its Growth Strategy
Dalfen Industrial recently purchased Pock Lane Logistics Center at 4212 Pock Ln. in Stockton for an undisclosed purchase price. This opportunity was sourced off-market through a relationship with the broker, Mike Goldstein of Colliers, and was purchased at below-replacement cost with rents 25 to 30 percent below market. The market widely surpasses the national average in both population and household growth.
“Pock Lane Logistics Center is an exceptional property and a welcome addition to our West Coast portfolio,” said Rich Weiss, market officer at Dalfen Industrial. “Stockton is a major West Coast distribution hub with same-day delivery capabilities to nearly 46 million people between San Francisco, Sacramento, Los Angeles, San Diego and Las Vegas, and all the cities in between.”
The 55,200-square-foot building was built in 1995 and is 100 percent occupied by KMM Corp. The industrial property is near Highway 99 and Interstate 5 as well as multiple intermodals and Stockton Metropolitan Airport, an Amazon air cargo hub.
“Adding West Coast industrial assets is crucial to our growth strategy and the ability to provide last-mile distribution facilities in the major U.S. markets.” said Sean Dalfen, president and chief investment officer at Dalfen Industrial.