Catellus Lands 550-Acre Assignment

STOCKTON, CA-Development of the 550-acre Airport East Business Park here took a step forward recently when San Joaquin County finalized its master developer agreement with ProLogis subsidiary Catellus Development Group. The agreement envisions the development of some 5.5 million sf of office and industrial uses on the site, which is near the Stockton Metropolitan Airport.

Airport East Business Park would be developed along Highway 99. Upon build out, the site would include up to 2.5 million sf of office space, 1.5 million sf of air cargo space, 1.4 million sf of distribution facilities, 91,000 sf of new retail development and 500,000 sf of open space and parks. The pre-building site work, alone, is expected to cost approximately $47 million. The project includes significant public financing, including the issuance of up to $150 million in public bonds.