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.