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McShane, MetLife Start on 1M SF Plus of Industrial

PATTERSON, CA-The first phase of the 122-acre development here will be a speculative 530,000-sf warehouse-distribution building.

By Brian K. Miller | Updated on January 09, 2008

PATTERSON, CA-McShane Corp. is set to break ground this month for the first phase of a 1.5-million-sf, 122-acre big-box warehouse-distribution development near Interstate 5 here, 80 miles southwest of the Port of Oakland via I-580. The Chicago-based company is making the investment in partnership with MetLife inc. Phase one completion is slated for November.

The $35-million first phase will consist of a 530,000-sf building with 120 docks, 32-foot clear height and parking for 90 truck trailers and 348 vehicles. The triple-net asking lease rate is expected to be in the low-to-mid $0.30s per sf for a large user, somewhat more for a smaller user.

“The large tenant activity has been strong in the marketplace,” McShane’s Irvine, CA-based VP Jon Dobrott tells GlobeSt.com. “Our park is right next to an 800,000-sf Long’s Drugs warehouse-distribution center and a 400,000-sf Kohl’s distribution facility.”

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