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Dedeaux Properties and Stockbridge Capital Group Close on $28 Mil Santa Clarita Acquisition

8/06/20

Dedeaux Properties and Stockbridge Capital Group have teamed up to purchase a vacant 214.4k sf warehouse and distribution center in Santa Clarita for $28.4 mil ($132/sf). The property is located on 11 acres of land at 24903 Avenue Kearny, within the 1,100-acre master planned Valencia Industrial Center.

The property most recently served as the regional distribution center for global pharmaceutical company AmerisourceBergen, which vacated the facility late last year. It was the largest industrial facility for sale in the 30 msf LA North Region, a growing industrial submarket 30 miles northwest of downtown Los Angeles. Its strategic location near I-5, the busiest commercial transportation corridor on the West Coast between Canada and Mexico, has made Santa Clarita a major distribution hub. In May, Amazon announced it will lease 100k sf for a distribution center in Santa Clarita.

With interior clear heights up to 30’, the property offers full drive around access with parking on all four sides, and includes 27 loading doors, including nine dock-high doors with load levelers, as well as exclusive truck access through a separate driveway and security gate. Dedeaux plans to completely renovate the facility including the addition of new creative office space, new interior finishes, and new lighting as well as expanding the dock high loading positions by an additional four positions.

This acquisition marks Dedeaux’s first investment in the Santa Clarita Valley, which remains a strategic target market for the company. As one of the oldest industrial development and investment firms in Los Angeles, Dedeaux has its history dating back more than 50 years, with the firm currently managing more than 6 msf of warehouse, trucking and logistics space, located primarily in the Inland Empire and Los Angeles County.

Los Angeles-based Dedeaux is one of the most active developers and investors in logistics-oriented facilities in Southern California. Most recently, on behalf of one of its managed institutional partnerships, Dedeaux acquired a vacant 1 msf warehouse and distribution center in Riverside, and immediately signed Cardinal Health to a long-term lease for the entire building.

James Abbott, Lauren Hunt and Jim Ebanks of Realty Advisory Group represented both the buyer and seller in the transaction. Dedeaux has engaged Realty Advisory Group as leasing agent.






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