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October 27, 2020
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Riverside Distribution Facility Purchased for $44 Mil by Loctek Inc

10/02/20

A recently completed, 361.3k sf state-of-the-art warehouse building in Riverside was purchased by Loctek Inc for $44.4 mil, or $123/sf. Loctek, a Chinese-based ergonomic office furniture manufacturer, is relocating and expanding its Western United States logistics hub from a smaller facility in Northern California.

The building, located at 6075 Lance Dr, west of I-215 and south of the 60 Fwy, was sold by Dedeaux Properties and joint venture partner Artemis Real Estate Partners. Originally developed by Dedeaux, the state-of-the-art distribution facility features 37 dock-high loading doors, 32-foot warehouse clearance, 7-inch thick Ductilecrete concrete floors and ESFR fire sprinkler system, in addition to a secured truck court to accommodate 53 trailers.

The new Loctek building is adjacent to a 1 msf warehouse and distribution building, which was acquired in mid-2019 by Dedeaux on behalf of one of its institutional managed partnerships in what was one of the largest single-asset acquisitions in Southern California of the year. After signing Fortune 100 healthcare services and products company Cardinal Health to a long-term lease, the Dedeaux-led venture sold the building to an institutional buyer in February of this year for an undisclosed amount.

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 with Colliers International represented the Dedeaux-led venture in the transaction.





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