The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
April 24, 2024
 Search RENTV
   Go!
 The REview
 News
News Home Page
Southern California
Northern California
Pacific Northwest
Texas/Southwest
Retail
Multifamily
Financing
Prop. Management
Archives
Press Releases
 R. E. Marketplace
Service Providers
JobWorks
Property Spotlight
 RENTV  Conferences
Subscriber Login:
  
Email      
    Go!
Password      
Forgot Password?



ETC... ETC...
Printer-friendly Version   Email an Associate
Newly Constructed Warehouse within Tejon Ranch Commerce Center Sells for $37 Mil

3/20/24

A recently completed 233.2k sf warehouse building in Lebec, CA, within southwestern Kern County, was purchased by an owner/user for $37.1 mil, or $159/sf. The property was sold by a partnership of Dedeaux Properties and Basis Investment Group in an off-market transaction.

The buyer, a national clothing and textile distributor, will be relocating its operations from the Inland Empire to the state-of-the art building at 5665 Dennis McCarthy Dr. The building features a 36-foot clear-height, 29 dock-high doors, and parking for 90 trailers.

The new building sits on 12.28 acres in the Tejon Ranch Commerce Center, a 20 msf master planned development on Interstate 5, just north of the Los Angeles basin. Nearly 6 msf of industrial, commercial, and retail space has already been developed, including distribution centers for IKEA, Caterpillar, Famous Footwear, L’Oreal and Dollar General.

“Our initial plan was to lease out the building and we received multiple inquiries from prospective tenants, said Ted Evans, Director of Asset Management who oversaw the Tejon Ranch project. “However, we received a very attractive offer to purchase the property at the end of the year which enticed us to sell.”




Return to the previous page


 
 


 
 
 



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media