Kamilos ready to start 2.6 million-square-foot California Compass Logistics Center project in Woodland
The investor is planning to build a new air park.
One of the original investors in Metro Air Park has plans to launch a similar project a little further down the road.
Gerry Kamilos, of Kamilos Cos., said California Compass Logistics Center will be located in Woodland and have more than 65 acres of industrial space.
Kamilos is working for CBRE, a commercial real estate broker, to lease buildings and sell land in the center.
California Compass Logistics, which has been working on the project for over 15 years, received final approvals for design review from Woodland, allowing Gold River's Kamilos Cos. to submit site improvements plans and construction drawings.
Developers are looking for land to build projects in El Dorado Hills, Roseville and Elk Grove.
Kamilos, however, said that there are few sites large enough to accommodate buildings up to 800,000. He added that even large enough sites for buildings of 500,000 square feet are difficult to find near a major arterial or freeway.
He said that there are 250,000 and 150,000 square foot of space available for lease in the area. There's a limited supply but there are people looking for locations.
In the coming months, infrastructure and grading work will begin on the project site located northwest of the intersection where East Kentucky Avenue meets County Road 102. Kamilos stated that construction from the ground up will begin when users are in place.
He said that the total project value would be around $400 million. The project will include 2.6 million square foot of industrial outdoor storage in addition to the buildings.
The future occupants of the building can either use this space to park trucks or trailers, or store equipment or material. He said that the space gives the project flexibility.
Kamilos started marketing 450 acres of land on the east side of Woodland six years ago. This included what is now California Compass. Since then, he has secured more approvals including the annexation of the city. This makes the project even more attractive.
He said, "It is still a substantial project."