Avison Young announces 9.56-acre land acquisition for development of a 205,000-sf industrial distribution center in Perris, CA30 Jan 2020
Perris, CA – Avison Young announced today that it has completed the $2.2 million off-market acquisition of 9.56 acres of industrial-zoned land located at 5150 Walnut Ave in Perris, CA, a city in south Riverside County. The buyer has plans for the development of an approximately 205,000-square-foot industrial distribution facility on the site.
Cody Lerner, a Senior Vice President, and Stan Nowak, a Principal, who are both based in Avison Young’s Inland Empire office in Ontario, CA, represented the buyer, Dedeaux Properties, one of the most active developers and investors in logistics-oriented facilities in Southern California. Lerner also represented the seller, a private entity. Lerner and Nowak have been retained by the new ownership to handle leasing of the speculative project which is currently undergoing entitlements that are anticipated to be finalized by the end of the year.
“The City of Perris continues to be a hotbed for industrial development,” said Lerner. “With land pricing being lower than other nearby areas and the 215 freeway running through it, connecting to the main transportation corridor of Interstate 10, this area has been attractive to industrial users seeking an economical location for distribution to all of Southern California and beyond.”
Lerner noted that Dedeaux plans for the facility include office space and approximately 205,000 sf of efficient warehouse space, 36’ clear height, with 28 docks, and parking for 42 trailers.
Avison Young is the world’s fastest-growing commercial real estate services firm. Headquartered in Toronto, Canada, Avison Young is a collaborative, global firm owned and operated by its Principals. Founded in 1978, with legacies dating back more than 200 years, the company comprises approximately 5,000 real estate professionals in 120 offices in 20 countries. The firm’s experts provide value-added, client-centric investment sales, leasing, advisory, management and financing services to clients across the office, retail, industrial, multi-family and hospitality sectors.
Avison Young is a 2019 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for eight consecutive years.
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For more information:
• Darcie Giacchetto, Places Public Relations: 949.278.6224