Dedeaux Properties Sells Riverside, CA Logistics Facility for $44.4 Million
By: Dedeaux Properties
Loctek, a Chinese-based ergonomic office furniture manufacturer is relocating and expanding its Western United States logistics hub to the 361,346-square-
"We designed this as a state-of-the-
"We are pleased to have successfully executed on the business plan above our expectations, delivering the building on time and under budget, while finding a great user/buyer among the strong tenant demand in the Inland Empire," added Artemis Real Estate Partners Senior Vice President Jonathan Rainford. "While this transaction underscores the strength and resiliency of the industrial sector in these extraordinary times, it is important to align yourself with a partner, like Dedeaux, who completely understands the asset class."
The new Loctek building is adjacent to a 1,012,995-square-
Both buildings make up Dedeaux Sycamore Canyon Distribution 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.
Under the terms of the sale to Loctek, Dedeaux will perform customized tenant improvements including the installation of additional dock levelers, warehouse lighting and motion sensors, and a backup emergency power system.
Ian DeVries, Chris DeVries and Patricia Uchytil in the Irvine Office of Colliers International represented the Dedeaux-led venture in the transaction.
About Dedeaux Properties
Los Angeles-based Dedeaux Properties, LLC (http://www.dedeauxproperties.com) focuses on the investment and development of logistics-oriented properties.
DB&R Marketing Communications, Inc.