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Avison Young brokers land sale in Perris, CA for new industrial development by Dedeaux Properties, LLC
June 29, 2022
Ontario, Calif. – Avison Young announced today a two-parcel, $5.96 million land sale totaling 4.08 acres located at 945 and 995 W. Markham Street in Perris, CA. The parcel is planned for the development of an industrial facility.
Avison Young’s Principal Stan Nowak represented the seller of 945 W. Markham Street. The second parcel was self-represented. Principal Cody Lerner represented the buyer, Dedeaux Properties LLC, a Los Angeles-based developer and investor.
Dedeaux Properties and its capital partners will develop an approximately 88,000-square-foot industrial building ¬on the site and will be marketed to a single tenant. Construction is anticipated to complete in 2023.
“With the industrial vacancy rate at an all-time low within the Inland Empire, we are seeing developers get more strategic in sourcing smaller sites in the east submarket. This was an excellent opportunity for Dedeaux to aggressively procure the site due to the asset size and location,” said Lerner.
Dedeaux Properties is an active third-generation Los Angeles-based logistics and industrial-oriented investment & development firm. With a portfolio of over 11,000,000 square feet of primarily transportation, distribution, refrigerated properties, Dedeaux Properties is among the most active developers in the Greater Los Angeles region. While executing on a pipeline of over 2,000,000 square feet in various stages of development & entitlement, the mission of Dedeaux Properties remains consistent: Create property value for the aligned benefit of partners, tenants, & team members.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 11 consecutive years.