PrintNew partners to break ground in Business Park
The newest partners in the Keystone Pacific Business Park plan to start construction on a 530,000-square-foot building next week.
Written by John Saiz / Patterson Irrigator Wednesday, 16 January 2008
“We’ve combed the Central Valley looking for this type of opportunity.”
— John Dobrott, McShane Corp. vice president
The newest partners in the Keystone Pacific Business Park plan to start construction on a 530,000-square-foot building next week.
Image courtesy of McShane Corp.
McShane Corp. and MetLife Real Estate recently purchased 128 acres of the 224-acre Keystone Pacific Business Park in west Patterson. They plan to construct three buildings, each of which is larger than 100,000 square feet.
It is uncertain who will occupy the buildings, but a McShane representative said they have a couple of “hot leads.”
“We’ve combed the Central Valley looking for this type of opportunity,” said John Dobrott, vice president of McShane. “This is where we think it is best.”
The first building will be complete before the end of the year, Dobrott said, and could have various uses, including distribution and manufacturing.
“Those types of jobs are what people are commuting to,” he said.
His company believes Central Valley economics are going through major changes, and the facilities at the business park will allow it to capitalize on that change.
“(It) wasn’t that long ago that Central Valley businesses were local and food-related,” Dobrott said. “If you look what’s coming now, things are national.”
When McShane’s first building is complete, it will become the third building in the park that takes up several acres, joining a Kohl’s distribution center and a Long’s Drugs distribution center.
“(The other distribution centers) tells you the park’s desirable,” Dobrott said.
The other two buildings planned by McShane will be 125,000 square feet and 530,000 square feet.
The park’s proximity to Interstate 5 and a nearby qualified workforce make the business park attractive, Dobrott said.
In the past, Keystone representatives have noted that Target Stores decided to open a major project in a different city because 2000 census figures indicated there were not enough high school graduates in the Patterson area. However, Dobrott said there is an ample workforce, and he expects people that have been commuting will line up for local employment.
He expects corporate tenants will also like the affordability of the Central Valley compared with surrounding areas.
“These types of facilities don’t make sense to locate them in the Silicon Valley or even the East Bay,” Dobrott said. “The land costs too much, the employees cost too much.”
Negotiations are ongoing with prospective business park tenants, Dobrott said, but he wouldn’t go into much detail.
“What Keystone and the city have put together is a great plan,” Dobrott said.
To reach John Saiz at the Irrigator, call 892-6187 or e-mail him atjohn@pattersonirrigator.com