Dedeaux Properties buys 1M sf industrial portfolio in Inland Empire

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

TRD 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
6277 E. Slauson Avenue, and from left: Prologis CEO Hamid Moghadam and Rexford Industrial co-CEOs Howard Schwimmer and Michael Frankel (Credit: Google Maps)

Rexford buys industrial property from Prologis for $41M

NAI Capital Vice President of Research, Marketing, and Communications J.C. Casillas and the Port of Los Angeles (Credit: iStock)

LA’s industrial market may be at max capacity

Daniel Wrublin (right), principal of Dalan Management and Gregory Fowler, managing partner at FPA Multifamily with The Vue Apartment Homes in San Bernardino

A strong industrial market in San Bernardino is spurring a multifamily boom

Transwestern CEO Carleton Riser and the Inland Empire property

Inland Empire’s industrial reign continues as Transwestern buys massive Eastvale warehouse site

Terreno Realty Chairman & CEO W. Blake Baird

Terreno Realty makes another industrial play in LA

From left: Prologis CEO Hamid Moghadam, and Randall L. Stephenson, chairman and CEO of AT&T Inc, with the site

Industrial powerhouse Prologis picks up 11-acre property in Commerce

ASB CEO Robert Bellinger and Columbia Business Park

This industrial deal was one of the biggest acquisitions ever in Inland Empire

Lonzo Ball and the warehouse (Credit: Getty Images)

This just-traded LA Laker just sold his South LA warehouse

arrow_forward_ios