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10/17/23
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In one of the year’s largest industrial real estate transactions in Los Angeles County, a Dedeaux family-controlled entity acquired an 882k sf distribution facility in Commerce from 99 Cents Only Stores in a $190 mil sale-leaseback transaction.
The property is located on a 24-acre lot at 4000 Union Pacific Ave and 4040 Noakes Ave, six miles southeast of downtown Los Angeles. It is immediately adjacent to the Hobart Intermodal Railyard, one of the most important transfer facilities of containerized cargo for the Port of Los Angeles, which moves approximately 40% of the nation’s containerized freight. The facility is situated within a gate-guarded campus, very unique to central Los Angeles, where Dedeaux controls over 2 msf of additional logistics properties.
“Over the years, we kept an eye on this property as a point of expansion for our East Los Angeles complex. This substantially increases our footprint for both our property clients as well as our logistics partners. This acquisition completes a vision my father, Rod Dedeaux, held since the inception of Dart Warehouse Corporation in 1960,” stated Terry Dedeaux, Chairman of the Board at Dart Warehouse Corporation and a partner in Dedeaux Properties.
The company is looking at numerous alternatives including a possible redevelopment of the site that would include two of our adjacent buildings totaling more than 400k sf to create a state-of-the-art distribution campus with excess trailer parking, secured access and privatized streets. The short-term sale/leaseback with 99 Cents Only Stores gives Dedeaux more time to evaluate all otheir options.
Jack Cline of Lee & Associates, in conjunction with Eastdil Secured, facilitated the sale.
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