STOCKTON, CA—Arch Road LP has renamed the Opus Logistics Center here to the NorCal Logistics Center, and Jones Lang LaSalle has been hired to manage leasing and sales at the 474-acre industrial park.
The park is located along Highway 99 off of Arch Road with access to Interstate 5, with potential for 8.2 million square feet of logistics facilities, distribution space and multi-tenant buildings planned on a build-to-suit and speculative basis. Approximately 1.8 million square feet of industrial product has been developed to date, all of which was built before the recession. Existing occupants in the park include Tesco, General Mills and Fox Motorsports.
Schaal Realty Advisors, on behalf of the owner’s sponsor, Founders Properties, manages theof the logistics and distribution center. The new JLL team is comprised of Senior Vice President Kevin Ahaesy, Managing Director Bill Niethammer, Executive Vice President Bob Taylor, Senior Vice President Jason Ovadia and Vice President Mike Zimmerman.
The Stockton logistics center property was acquired in 2007 by Arch Road, LP, and an investment group sponsored by the Opus Corp. for the long term development of the property. Headquartered in Minneapolis, Founders Properties is a privately held company formed by two industry veterans, Best Buy Founder Richard M. Schulze and Opus Founder Gerald Rauenhorst.
Tom Schaal said that the industrial development now has numerous features that appeal to potential occupiers in the business park, including status as an Enterprise Zone, a Foreign Trade Zone, a Certified STAA Route and close proximity to rail and marine cargo distribution modules -- BNSF Rail and the Port of Stockton, respectively.
“NorCal Logistics Center features deliverable and entitled land with infrastructure in place that is ready for build-to-suit development, which is a strategic advantage for us compared to other industrial developments in Northern,” Schaal said in a statement “Additionally, subdivision maps are being processed to accommodate greater lot-line flexibility by mid-2013.”