|
|
8/21/25
|
A 64.6k sf cold storage facility in San Jose has traded hands. The structure, sitting on a 2.9-acre site at 1130-1170 Olinder Court, is fully leased to Dairyland Produce LLC, a subsidiary of The Chef’s Warehouse. The price was not disclosed.
The asset was sold by Dedeaux Properties, who acquired the facility in 2016 as part of a five-property cold storage portfolio ranging in size from 44k sf to 111k sf -- three in central Los Angeles, and two in the San Francisco Bay-area. Built in 1980 and renovated in 2015 and 2022, the Olinder Ct building features a 24-foot clear height, eight dock high doors, and 96 parking stalls.
Rebecca Perlmutter, Darla Longo, and Barbara Perrier of CBRE Represented Dedeaux in the transaction. Melinda Bacharach of MLB Real Estate Services repped the private investment entity buyer. The disposition of this property represents the close-out of a portfolio investment for a total consideration of $141.5 mil.
Despite having one of the largest industrial bases in the United States, California has a significant shortage of cold storage product. According to CBRE research, California has the second lowest cold storage supply rate per capita of any state in the country. Over the last 10 years, the Silicon Valley has had a 16% average annual rent growth for industrial property with an average vacancy of 2.8%.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
