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11/15/24
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San Francisco-based DECA has announced plans to build a brand new 855.3k sf warehouse/distribution facility in Riverside County. The project, Perris Gateway, is a fully entitled, state-of-the-art speculative cross-dock development situated on over 42 acres in Perris, part of the Inland Empire East submarket. The new warehouse facility is the second phase of the project, with the first phase consisting of 27k sf of newly built retail space that began construction along Ramona Expwy earlier this year in March.
DECA recently closed on a $135 mil construction loan to fund the development of the new facility. The loan was provided by Affinius Capital and Bank OZK. The equity commitment originated from DECA's principals and Wildcat Capital Management. According to DECA, the project is creating 1,200 construction jobs and over 800 permanent jobs when the building is fully operational next summer.
The freestanding building is strategically located off Interstate 215, a key logistical route, with high freeway visibility. The property is proximate to the Ports of Los Angeles and Long Beach as well as the Los Angeles International Airport and several other airports that stretch from the Pacific Coastline to the inner valley.
Cushman & Wakefield’s Andrew Starnes, Phil Lombardo and Cruise Adams have been hired to lead leasing efforts for the new warehouse development.
Perris Gateway is located at the southeast corner of Ramona Expwy and Nevada Rd, just off the Interstate 215 on/off ramp. The building includes modern, sought-after features such as 40-foot clear height, 124 dock and 4 grade loading doors, separate 308 trailer stalls and ample auto parking, heavy power, on-site queuing lane, and future adjacent retail amenities. The location is also near a major freeway system, including Interstates 215, 10 and 15 and Highways 74, 60 and 91.
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