STOCKTON, CA-This morning, Tom Schaal of Schaal Realty Advisors LLC exclusively revealed to GlobeSt.com that one of Northern California’s largest industrial parks has rebranded as NorCal Logistics Center and has hired a new and veteran team of industrial and logistics specialists from Jones Lang LaSalle to manage project leasing and sales.
According to Schaal, “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 California. Additionally, subdivision maps are being processed to accommodate greater lot-line flexibility by mid-2013,” he says.
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 the development of the logistics and distribution center.
Since the third quarter last year, Schaal has managed the rebranding of the park with a new name, logo and website (www.norcallogisticscenter.com), initiated the new subdivision map and entitlement process and participated in the selection of the new brokerage team.
The business park was formerly called Opus Logistics Center.
In his career, Schaal has led or participated in the development of more than 2,000 acres of office and industrial parks, and retail shopping centers, including the 655-acre Port of Sacramento Industrial Park, the 640-acre Southport Business Park in Sacramento and the former 124-acre Fong Ranch property off Truxel Road in Sacramento that became The Promenade (retail center) and multiple mid-rise Class A office buildings.
The Stockton logistics center property was acquired in 2007 by Arch Road LP, and an investment group sponsored by the Opus Corporation based in Minnesota, for the long term development of the property. Arch Road LP continues to own the property debt free, and is committed to a quality development through completion of the park, according to a prepared statement.
Headquartered in Minneapolis, Founders Properties is a privately held company formed by two highly regarded industry veterans, Best Buy Founder Richard M. Schulze and Opus Founder Gerald Rauenhorst.