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Dedeaux Properties Sells One-Million-Square-Foot Distribution Facility in Riverside, CA

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Santa Monica, CA (February 19, 2020) – Dedeaux Properties, on behalf of one of its institutional managed partnerships has sold a 1,012,995 square-foot warehouse and distribution facility in Riverside, CA to an institutional buyer.

Dedeaux Properties, which specializes in the investment and development of logistics-oriented real estate in California, negotiated to purchase the to-be-built facility at 6275 Lance Dr in 2018, once construction drawings were completed, due to its strategic size, location and functional proposed building amenities.  The Dedeaux Properties-controlled venture signed Cardinal Health to a long-term lease for the entire building, which serves as the flagship West Coast medical solutions segment replenishment center for the Fortune 100 healthcare services and products company.

The state-of-the-art warehouse and distribution building is situated on 52-acres, with 147 dock-high loading doors (9’x10’),  four ground-level loading doors (12’x4’), 36-foot warehouse clearance with cross-dock loading, 52’x50’ typical bay spacing, an ESFR sprinkler system, and two secured truck courts with 192 trailer parking spaces.   It is adjacent to a newly constructed 361,346-square-foot warehouse building that was developed by Dedeaux Properties. The remaining building, situated on 18 acres, has 37 dock high loading doors (9’x10’), 2 ground level doors (12’x4’), 53 trailer spaces and 177 auto parking spaces.

Both buildings are located within the 920-acre master planned Sycamore Canyon Business Park, which has immediate access to Interstate 215 and California 60, key distribution routes to the Greater Los Angeles metro, Phoenix and Las Vegas. Corporate neighbors include Amazon, Big 5 Sporting Goods, Pepsi Bottling Group and Kroger.

The Darla Long Team of CBRE represented Dedeaux Properties on the sale.

About Dedeaux Properties

Los Angeles-based Dedeaux Properties, LLC (www.dedeauxproperties.com) focuses on the investment and development of logistics-oriented properties. With a portfolio of over 6,500,000 square feet of primarily transportation, distribution, refrigerated properties, Dedeaux Properties is among the most active developers and investors in the Greater Los Angeles region. While executing on a pipeline of over 2,000,000 square feet in various stages of development & entitlement, the mission of Dedeaux Properties remains consistent: Create property value for the aligned benefit of partners, tenants, & team members.

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

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Stater Bros. Charities and Reyes Coca-Cola Bottling Give Back to Military Families

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Stater Bros. Charities, the philanthropic arm of Stater Bros. Markets, partnered with Reyes Coca-Cola Bottling again this year for their Give Back program during National Military Appreciation Month. The program ran for the entire month of May, during which Reyes Coca-Cola Bottling committed to donating $0.25 per eligible product purchased to the Bob Hope USO. Reyes Coca-Cola Bottling donated $15,000, and Stater Bros. Charities matched their donation for a total contribution of $30,000.

A check presentation occurred during a K-EARTH 101 radiothon benefiting the Bob Hope USO. The radiothon took place at the Bob Hope USO at LAX (Los Angeles International Airport) on June 29, 2023, where Stater Bros. Charities and Reyes Coca-Cola Bottling presented Bob Hope USO with a $30,000 check.

Bob Hope USO’s mission is to strengthen America’s military service members by keeping them connected to family, home and country, throughout their service to the nation. The Give Back program is a unique opportunity to show gratitude and support to the brave men and women who risk their lives for our freedoms and to care for their families while they are away from home on deployment.

“Stater Bros. Markets has a long history of supporting veterans, service members, and their families,” said Danielle Oehlman, Director, Stater Bros. Charities. “We are so pleased to partner with our friends at Reyes Coca-Cola Bottling and the USO to give back to those who have given so much for us.”

Lorin Stewart, President, USO West Region, said, “We are deeply grateful to Stater Bros. Charities and Reyes Coca-Cola Bottling for being sustaining partners of the USO. The Give Back program embodies the essence of the USO mission by enabling the community at large to come together to support and give thanks to our armed forces and their brave military families in an impactful way.”

Funds will support the Bob Hope USO and USO San Diego Center operations, including programs and services that strengthen the social, mental, physical, and emotional well-being of local military service members, their families, and their communities.

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BDK Logistics Intelligence Fully Leases 114,190 SF Industrial Facility in Corona, CA

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Cushman & Wakefield represents landlord in lease in SoCal’s Inland Empire

Cushman & Wakefield announced that BDK Logistics Intelligence, Inc. has signed a lease for an entire 114,190-square-foot industrial facility at 1161 Olympic Drive in Corona, California. Situated in Southern California’s renowned Inland Empire, the building is owned by Monterey Rancho Mirage, LLC, which was represented by Brett Lockwood and Rick Ellison of Cushman & Wakefield in the transaction.

“We are pleased to welcome BDK to the property as a quality industrial tenant that is expanding its presence in the market, which it also currently occupies multiple warehouse facilities,” said Director Brett Lockwood. “Our client was instrumental in helping this deal transact as there were many variables that needed to be navigated which led to this lease coming together quickly and successfully.”

1161 Olympic Drive is a quality freestanding building situated on ±4.8 acres and features 20 dock high loading doors. The property is conveniently located off Interstate 15 near the confluence of SR 91 and is proximate to the extensive freeway network traversing the entire Greater Los Angeles region and into other major markets in and out of state.

According to Cushman & Wakefield’s latest Q2-2023 quarterly report, the Inland Empire industrial market posted an overall vacancy of 3.4% and has recorded more than 2.7 million square feet of positive net absorption through the first half of 2023.

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Hernandez resigns as County CEO; Snoke will continue filling in pending Board action

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Leonard X. Hernandez resigned from the post of County Chief Executive Officer effective today. County Chief Operating Officer Luther Snoke has been filling in for Hernandez while Hernandez has been on leave and will continue to do so. The Board of Supervisors will act to appoint an interim or permanent CEO shortly.

“The Board of Supervisors appreciates the service Leonard provided to the public and the County organization, especially as we navigated our way through the pandemic and other very difficult challenges,” said Board of Supervisors Chair Dawn Rowe.

Hernandez provided the following statement:

“It has been an extreme privilege to serve as the Chief Executive Officer of San Bernardino County. I am thankful to the Board of Supervisors for their leadership and the hard-working men and women who do amazing work every day. Due to an urgent family health issue that requires my immediate and undivided attention, I have informed the Board of my resignation. Under the strong leadership of the Board of Supervisors and the County’s executive team, the County will continue doing great things for the residents of San Bernardino County.”

“The Board of Supervisors is committed to a seamless transition in staff leadership with no interruption in County services or impact on County residents or employees,” Rowe said. “Luther has performed well filling in for Leonard and I am confident in his ability to continue serving in this role until the Board takes action.”

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