Dedeaux Trades 1 MSF Inland Empire Warehouse
- Feb 20, 2020
Dedeaux Properties has sold a 1 million-square-foot warehouse and distribution facility in Riverside, Calif., to an institutional investor. CBRE represented the seller in the transaction. Dedeaux acquired the asset for $94.2 million from Hillwood in mid-2019, according to Yardi Matrix.
Built in 2019, the cross-dock property features 36-foot clear heights, 147 dock-high loading doors, four grade-level doors, an ESFR sprinkler system and two gated truck courts with 192 trailer parking spaces. In October, the seller signed Cardinal Health to a long-term lease for the entire facility.
Located on 52 acres at 6275 Lance Drive, the Class A property is within the 920-acre master-planned Sycamore Canyon Business Park. The industrial complex is 1 mile from the entrances to Interstate 215 and State Route 60. The facility neighbors several major regional distribution centers for tenants including Amazon, Pepsi and Kroger.
CBRE Vice Chairman & Managing Director Darla Longo led the brokerage team which represented Dedeaux. Earlier in February, the same team assisted the seller of a 143,327-square-foot industrial property in San Bernadino, Calif.