Dermody has expanded its West Region industrial portfolio with the purchase of a large logistics property in Tracy. The company acquired 1269 E. Grant Line Rd., a 606,343-square-foot logistics building, for an undisclosed price. The facility is described as a Class A, move-in-ready option and is reported to be one of the largest single-user opportunities currently available in the Central Valley.
The property was completed in 2023 and designed as a modern cross-dock distribution building. It is situated on 29.3 acres and offers 40-foot clear heights, supporting contemporary racking and high-cube warehouse configurations. Loading infrastructure includes 103 dock-high doors and four grade-level doors, providing flexibility for a range of distribution and industrial operations.
Truck and automobile parking are significant components of the site, with 176 trailer stalls and 220 car parking stalls. These features are intended to support intensive logistics activity and high truck throughput, as well as employee parking for large-scale operations. The building layout and site configuration position the asset for users that require substantial trailer storage and efficient truck flow.
According to Shelagh Danna, senior vice president of investments at Dermody, the facility is suited to customers seeking a large, modern building, particularly those active in e-commerce fulfillment, distribution or manufacturing. She noted that the property is ready for immediate occupancy and offers the scale, clear height and truck capacity associated with contemporary distribution requirements in what she described as a highly sought-after market.
On the capital markets side, Rebecca Perlmutter of CBRE National Partners represented the undisclosed seller in the transaction. The buyer and seller did not release additional financial details, including the sale price. Dermody has retained a leasing team from Colliers to handle tenant outreach and negotiations for the property.
Leasing efforts will be led by Michael Goldstein, Ryan McShane and Alex Hoeck with Colliers. Their assignment will focus on securing a user or users that can capitalize on the building’s single-user scale, Class A specifications and immediate readiness for occupancy. The combination of modern design, ample trailer and auto parking, and cross-dock functionality is expected to appeal to distribution and industrial occupiers seeking a large format facility in the Tracy area.
The acquisition adds a newly built, large-format logistics asset to Dermody’s West Region portfolio and brings a considerable block of Class A space to the Central Valley market at a time when large, move-in-ready options are described as limited. With the buying entity, seller representative and leasing team now in place, the property is positioned for active marketing to e-commerce, distribution and manufacturing users.
