{"id":1004685954,"date":"2023-10-17T04:18:53","date_gmt":"2023-10-17T12:18:53","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004685954"},"modified":"2023-10-17T04:57:42","modified_gmt":"2023-10-17T12:57:42","slug":"dedeaux-properties-buys-la-facility-for-190m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dedeaux-properties-buys-la-facility-for-190m\/","title":{"rendered":"Dedeaux Properties Buys LA Facility for $190M"},"content":{"rendered":"
\"4000<\/a>

The property serves as 99 Cents Only Stores’ headquarters. Image courtesy of CommercialEdge<\/em><\/p><\/div>\n

Dart Entities<\/strong>, a 3PL provider connected to Dedeaux Properties<\/strong>, has acquired an 882,000-square-foot distribution center in Commerce, Calif., for $190 million. The seller was Ares Management<\/strong>, the owner of 99 Cents Only Stores, CommercialEdge data shows. Following the sale-leaseback, the retailer chain will continue to use the Class B property as headquarters.<\/p>\n

The deal marks one of the largest industrial transactions in Los Angeles County this year so far. Lee & Associates<\/strong>\u00a0President Jack Cline, with the assistance of Eastdil Secured<\/strong>, arranged the sale.<\/p>\n

\n

READ ALSO<\/strong>: What’s Ahead for Industrial? SIOR Conference Report<\/a><\/p>\n

\n

The one-story industrial building, located at 4000 Union Pacific Ave. and 4040 Noakes Ave., features 126 dock-high doors, sky lights, a 110-foot truck court and 600 vehicle parking spots, the same source shows.\u00a0The approximately 24-acre property is adjacent to the Hobart Intermodal Railyard and close to interstates 5 and 710. The location is 5 miles from downtown Los Angeles, 23 miles from the Port of Los Angeles and within 24 miles of Los Angeles International Airport.<\/p>\n

The asset is part of an industrial campus where Dedeaux Properties manages more than 2 million square feet of logistics space. President & Managing Member Brett Dedeaux said, in a prepared statement, that the property has been on the company\u2019s radar for some time and it might be redeveloped into a distribution center that will include two adjacent buildings totaling more than 400,000 square feet.<\/p>\n

Los Angeles, a pricey market<\/h2>\n

Los Angeles’ industrial sales volume totaled $2.4 billion year-to-date as of August, with assets changing hands for $346 per square foot, the highest price in the U.S. according to a recent CommercialEdge report<\/a>. In terms of total sales, the metro was second to the Inland Empire ($3.3 billion) and outperformed the Bay Area ($1.98 billion).<\/p>\n

In one of the priciest deals, Rexford Industrial Realty Inc. paid $210 million<\/a> for a 595,304-square-foot industrial property in Los Angeles County. The asset had previously changed hands in 2015 for $62.3 million.<\/p>\n","protected":false},"excerpt":{"rendered":"

Ares Management sold the asset in a sale-leaseback deal.<\/p>\n","protected":false},"author":2991,"featured_media":1004685965,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1594,21742,15],"tags":[33958,33101,32762],"class_list":["post-1004685954","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-los-angeles","category-latest","category-west","tag-dedeaux-properties","tag-eastdil-secured","tag-lee-associates"],"acf":[],"yoast_head":"\nDedeaux Properties Buys LA Facility for $190M - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Dart Entities, a 3PL provider related to Dedeaux Properties, acquired a Los Angeles-area distribution center for $190 million.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dedeaux-properties-buys-la-facility-for-190m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dedeaux Properties Buys LA Facility for $190M\" \/>\n<meta property=\"og:description\" content=\"Dart Entities, a 3PL provider related to Dedeaux Properties, acquired a Los Angeles-area distribution center for $190 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dedeaux-properties-buys-la-facility-for-190m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-17T12:18:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-17T12:57:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/4000-union-pacific-ave-e1697535504684.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dedeaux-properties-buys-la-facility-for-190m\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dedeaux-properties-buys-la-facility-for-190m\/\",\"name\":\"Dedeaux Properties Buys LA Facility for $190M - 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