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Avison Young brokers sale of a newly developed 205,589-sf industrial building in Perris, CA
Ontario, Calif. – Avison Young announced today the sale of a 205,589 square-foot industrial building located at 100 Walnut Avenue in Perris, CA.
Avison Young Principals Cody Lerner and Stan Nowak represented the seller/developer, Los Angeles-based developer and investor Dedeaux Properties LLC. The buyer, a private investor from Southern California, was represented by Carol Taubman of Westgate Industrial Properties.
“When Dedeaux Properties acquired the land a few years ago, the Inland Empire East submarket wasn’t as strong as it is today. It has since become an increasingly desirable area as land becomes less available,” said Lerner.
Lerner added, “We are pleased that Dedeaux entrusted us to execute its exit strategy, which has successfully enabled the company to reach its financial and operational goals for this facility.”
Nowak added, “The Inland Empire continues to be one of the hottest industrial markets in the nation, where user demand is outpacing construction deliveries despite a robust development pipeline. We believe this trend will continue for the foreseeable future and will bolster development and capital investment despite macro-economic headwinds.”
The recently construction facility is situated on 9.56 acres, and includes a 36-foot clear height, 27 dock doors and 1,200 amps of power.
Dedeaux Properties is an active third-generation Los Angeles-based logistics and industrial-oriented investment & development firm. With a portfolio of over 11,000,000 square feet of primarily transportation, distribution, refrigerated properties, Dedeaux Properties is among the most active developers 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.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
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For more information:
- Media Contact: Darcie Giacchetto, Media Relations Specialist – Southwest: +1.949.278.6224
- Business Development: Cody Lerner, Principal | Ontario, California: +1 951.267.2752