Dedeaux Partnership Pays $28M for Los Angeles Facility

The joint venture financed the purchase with a $20.7 million loan from Zions Bank.
24903 Avenue Kearny. Image courtesy of Dedeaux Properties

A partnership between Dedeaux Properties and Stockbridge Capital Group has completed the $28.4 million acquisition of a 214,436-square-foot industrial property in Santa Clarita, Calif. Zions Bank provided the buyer with $20.7 million in acquisition financing, according to Yardi Matrix data. AmerisourceBergen sold the vacant building.

Located on 11 acres at 24903 Avenue Kearny, the building was completed in 1988. Features include 30-foot clear heights, 120-foot truck court, nine dock-high and 16 grade-level doors and exclusive truck access through a separate driveway and security gate. The facility served as a warehouse and distribution center for AmerisourceBergen, who vacated the building in 2019. The site is 3 miles from Interstate 5 and 30 miles northwest of downtown Los Angeles.

Realty Advisory Group Executive Director James Abbot, Director Lauren Hunt and Senior Director James Ebank facilitated the transaction on behalf of both parties. Additionally, the new owner has selected the brokerage firm to oversee leasing efforts for the asset.

In February, following seven months of ownership, Dedeaux Properties sold a 1 million-square-foot, fully-leased industrial property in Riverside, Calif., for $131 million. TA Realty acquired the Inland Empire facility and financed the purchase with a $65.9 million loan from Prudential Financial.