Dedeaux Properties buys 1M sf industrial portfolio in Inland Empire

Deal adds to about 400K sf deal adjacent to the new 52-acre property

Los Angeles /
Aug.August 05, 2019 12:08 PM
CIO Matt Evans, COO Alan Kraft and Todd Platt, CEO of Hillwood with Dedeaux Sycamore Canyon Distribution Park
CIO Matt Evans, COO Alan Kraft and Todd Platt, CEO of Hillwood with Dedeaux Sycamore Canyon Distribution Park

Dedeaux Properties has massively expanded its industrial footprint in Southern California after purchasing a portfolio with more than 1 million square feet of space.

The newly constructed warehouse and distribution center is on 52 acres at 6275 Lance Drive in Riverside, which is in the industrial capital of the country — the Inland Empire. The purchase is one of the largest single asset industrial acquisitions in Southern California this year.

The property was vacant at the time of the sale. The seller was Hillwood Development Company, which was founded by Ross Perot Jr. in 1988.

The property is the second of a two-building industrial complex totaling approximately 1.4 million square feet that L.A.-based Dedeaux has recently acquired. The immediately adjacent site was purchased through a separate transaction from a different seller. The two properties have been named the Dedeaux Sycamore Canyon Distribution Park.

The Inland Empire remains one of the most sought-after warehouse and distribution markets in the United States, according to Colliers International. The region has some of the lowest vacancy rates and highest rental rates compared with other major distribution hubs. During the second quarter of 2019, the vacancy rate hit 3.4 percent, as demand outpaced new construction completions.

Dedeaux Properties specializes in the investment and development of logistics-oriented real estate

The firm’s CIO, Matt Evans, said in a statement that the purchase is the latest move in a pipeline of about 2 million square feet of development and activities for the firm, including cold storage in Central L.A., truck terminal developments in the Inland Empire and trailer parking yards in South Bay. Last year, the firm sold an industrial park in the City of Industry for $50 million.

Ian DeVries and Chris DeVries of Colliers International represented both the buyer and seller, and they are also handling leasing for the property.


Related Articles

arrow_forward_ios
USPS nears lease for 100K sf distribution center in City of Industry
USPS nears lease for 100K sf distribution center in City of Industry
USPS nears lease for 100K sf distribution center in City of Industry
California law clamps down on unsafe warehouse work conditions
California law clamps down on unsafe warehouse work conditions
California law clamps down on unsafe warehouse work conditions
Stanley Point Capital Founder Kevin Stanley and the warehouse (Stanley, Google Maps)
Staley Point, Bain Capital buy another industrial complex
Staley Point, Bain Capital buy another industrial complex
Overton Moore Properties CEO Timur Tecimer with an aerial of the property (Google Maps, OMP)
Gardena industrial complex sells to Overton Moore Properties for $35M
Gardena industrial complex sells to Overton Moore Properties for $35M
(Getty Images)
SoCal’s “Space Beach” is ready for liftoff
SoCal’s “Space Beach” is ready for liftoff
Oxford Properties CEO Michael Turner and the campus (Oxford)
Oxford moves into LA with $134M industrial buy
Oxford moves into LA with $134M industrial buy
Western National Group CEO Michael Hayde and ASB Real Estate Investments CEO Robert Bellinger with the apartments (ASB, Western National)
ASB, Western National buy Inland Empire apartment complex for $227M
ASB, Western National buy Inland Empire apartment complex for $227M
Hager Pacific picks up 145K sf industrial complex in South Bay
Hager Pacific picks up 145K sf industrial complex in South Bay
Hager Pacific picks up 145K sf industrial complex in South Bay
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...