Sale of 20-Acre California Industrial Site Paves the Way for New Distribution Center
GALT, Calif., May 28, 2014 - EL & EL Wood Products Corp has acquired a 20-acre industrial site in Galt, a city approximately 20 miles south of Sacramento along Hwy. 99. Cushman & Wakefield's Sacramento-based team of Matt Cologna, Bryce MacDonald and Dave Nicholson represented the seller, KMS Development. EL & EL Wood Products was represented by Tommy Ponder of Cable & Kilpatrick.
With the transaction, EL & EL Wood Products is set to construct a 220,000-square-foot wholesale distribution center for its line of moldings, doors and other building materials. The company, which currently employs 255 people and manages its own fleet of trucks throughout California, Nevada and Arizona, will bring 75 new jobs to the City of Galt.
"This is a win-win for everyone involved," said Cologna. "The city will get new jobs - the City of Galt was an active participant in this transaction - and EL & EL, which initially expanded into Northern California in 2005, will have a building in which they can consolidate all of their Northern California distribution under one roof."
"We chose Galt for its business-friendly atmosphere, reasonable land costs, and centralized proximity to serve all of Northern California," said Cathy Vidas of EL & El Wood Products, which has been in business since 1966. "We thank the City of Galt for welcoming our company with excitement and enthusiasm."
Galt City Manager Jason Behrmann echoed those sentiments: "We are thrilled to welcome El and El Wood Products to the City of Galt. They are a very successful company and will be a perfect fit for our industrial park. City staff and the Council have been working hard over the past few years to streamline permitting processes, reduce fees and create a development and business-friendly environment in order to create jobs in our community. It is always exciting to see results."
BCM Construction Co. will build the new state-of-the-art distribution center for EL & EL Wood Products, and Tom Manz & Associates, an affiliate of seller KMS Development, will serve as construction manager.
Cushman & Wakefield's industrial brokerage platform provides global resources and local expertise for tenant and landlord representation, disposition and acquisition services, transaction management, and industrial consulting including labor and demographic analysis. In 2012, in the U.S. alone, this group completed more than 7,000 industrial real estate transactions - totaling 261 million square feet - with an aggregate value in excess of $8.43 billion.