Business

Dermody Inks 111 KSF in California, Nevada Leases

6 months ago

An HVAC specialist is taking space at both industrial properties. The post Dermody Inks 111 KSF in California, Nevada Leases appeared first on Commercial Property Executive.

Dermody announced the LogistiCenter at Interstate 80 Phase II in 2021. Image courtesy of Dermody Properties

Daikin Industries has signed two leases totaling 111,452 square feet of warehouse space across two LogistiCenters in Rohnert Park, Calif., and Verdi, Nev. Dermody Properties owns the facilities, with the latter slated for delivery in the second quarter of 2024.

Cushman & Wakefield alongside SRS Industrial represented the tenant, while DCG worked for the owner in the leasing negotiations.

The tenant, a Japanese company, is an established player in HVAC technology, specializing in air conditioning, fluorochemicals and filters to combat air pollution.

Back in 2023, the state of California announced its goal of deploying six million heat pumps by 2030. Daikin’s new leases are part of the company’s efforts to help achieve that target. According to Dermody COO Elizabeth Kauchak, Daikin will use the properties to establish a West Coast presence for its distribution and logistics operations.

Cushman & Wakefield Senior Director Dave Paradise and Managing Director Scott Borgia represented Daikin in the lease negotiations for the Nevada facility, while SRS Industrial Vice President Joseph Cooper led the arrangement on behalf of the HVAC company for the California property.

DCG Senior Vice President Joel Fountain and Vice President Nick Knecht alongside Senior Advisor Baker Krukow represented Dermody Properties for the Nevada property.

Establishing a West Coast presence

Daikin has leased 26,332 square feet at the 69,550-square-foot LogistiCenter in Rohnert Park, Calif. This brings the facility to full occupancy, with the company joining tenants such as Red Bull and Ferguson. The property features two drive-in doors, four 10-foot dock-high doors, 24- to 26-foot clear heights and 50- by 58-foot column spacing.

Located at 201 Business Park Drive, the facility is within 1 mile of U.S. Route 101 and the SMART train line. The Port of Oakland is 54 miles southeast while the San Francisco International Airport is some 63 miles away.

Daikin’s other signed lease will take up 85,380 square feet at LogistiCenter at Interstate 80 West Phase II in Verdi, Nev., a 429,000-square-foot project first announced by the developer in 2021. According to Dermody Properties Nevada Partner John Ramous, Daikin is the first tenant to sign a lease agreement at the upcoming two-building facility.

The HVAC company’s lease places them inside building one, which will include 27 dock-high doors, 32-foot clear heights, two drive-in doors, 60-foot speed bays, as well as 105 parking spaces.

Located at 8800 Boomtown Garson Road, the facility is less than 1 mile from I-80 and more than 12 miles from Interstate 580, as well as some 14 miles west of Reno-Tahoe International Airport.

The post Dermody Inks 111 KSF in California, Nevada Leases appeared first on Commercial Property Executive.