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7/26/24
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Dedeaux Properties and joint venture partner Basis Investment Group have acquired the fee-simple interest in the land under Rialto Village, its recently completed 83.3k sf high velocity warehouse building in Rialto, for $12.8 mil.
In February 2023, the Dedeaux-led joint venture entered into an initial ground-lease development with the seller Newmark Merrill, to construct the industrial facility on a 3.87-acre parcel located at 1505 S. Willow Ave, with an option to buy out the ground lease. Located within the Gateway Specific zoning designation, Rialto Village is surrounded by retail and mixed-use establishments.
Rialto Village is a concrete tilt-up building featuring 32-foot clear ceiling heights, 17 dock-high doors, one grade-level door, a 125-foot secured truck court and 5.5k sf of office space. Rialto Village sits in an infill pocket of Rialto adjacent to the Union Pacific Colton Intermodal Yard which provides rail service between Southern California and Chicago. Rialto Village is also one-half mile from the I-10 /I-215 interchange, key truck routes serving all of Southern California and the Western United States.
Rialto is located in the geographic center of the Inland Empire, Southern California’s import distribution hub and one of the most important warehousing regions in the United States. In a Spring 2024 report published by the Rose Institute of State and Local Government at Claremont Mckenna College, approximately “40% of the nation’s goods in 2022 travelled through the Inland Empire at some point during transit from domestic manufacture or foreign import to final destination.” To meet this demand the Inland Empire has seen the development of approximately 30 million square feet in new large and mid-scale e-commerce distribution warehouses since 2021. Despite the increase in inventory, the region’s vacancy rate of 1.4% is one of the lowest rates nationally.
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