LATHROP — The city of Lathrop will soon have a new distribution facility to add to the area’s booming logistics industry.
Mid Cal Industrial Properties and Cushman and Wakefield closed escrow on 32.3 acres of industrial land. The group plans to build a 627,620 square foot facility on the property.
“With the vacancy rate hovering at a historically low rate of +/-3 percent, this building should be very well-received by the market at this time,” said Mid Cal Industrial President Tim Pryor.
This will add to an already surging logistics industry in the area. Since 2013, developers have added 6.7 million square feet of new industrial space. Another 6.6 million square feet are currently under construction. The new developments have created more that 5,000 new jobs.
“I’ve never seen anything like it,” Brad Ecker, a San Joaquin Partnership client administrator said. “We’ve got an explosion going on right now.”
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