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California  + Bay Area  + Industrial  | 

Prologis Claims Central Valley Logistics Facilities from CT for $47M

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San Francisco-based Prologis acquired two newly-constructed industrial buildings within CT’s NorCal Logistics Center in Stockton, CA for $47 million. The buildings total 575,127 square feet and mark the initial completion of CT’s three-building Phase I development of the larger 4.4 million-square-foot NorCal Logistics Center.

Prologis paid roughly $82 per square foot for the buildings, which were unleased and in shell condition at closing.

CT’s Carter Ewing says, “These transactions reflect the high demand for world-class logistics facilities in major distribution markets nationwide. The speed with which these buildings transacted following completion mirrors the strong interest we are experiencing in several other projects we currently have underway.”

CT was represented by Kevin Dal Porto, Blake Rasmussen and John McManus of Cushman & Wakefield. Prologis was self-represented.

The 345-acre NorCal Logistics Center site was acquired by CT in May 2017, and is home to General Mills, KeHE Foods, Allen Distributors and Fox Head.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Sale/Acquisition
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