*Courtesy of Cushman & Wakefield, (Source Article)
April 30, 2019
Cushman & Wakefield announced today that Dedeaux Properties in a joint venture with Ledo Capital Group has closed on a purchase of a 2 acre site in Vernon, CA. The acquisition came in tandem with a lease to an undisclosed national restauranteur who owns and operates several concepts in multiple locations throughout Southern California and New York. Their new 46,968-square-foot (sf) headquarters facility is an expansion of their commercial kitchen space in Downtown Los Angeles.
Cushman & Wakefield’s Brandon Gill, Brandon Burns, and Jae Yoo represented the landlord in the transaction.
3520 E. Vernon Ave. is centrally located at the corner of East Vernon Avenue and Alcoa Avenue. The VEMzoned, state-of-the-art facility spans 2.06 acres of land and will feature 32’ minimum clearance, seven dock high doors, one ground loading door, and 47 parking spaces. Construction for the specialized food facility is currently underway and slated for completion in early 2020.
“As downtown gets redeveloped, a high volume of industrial tenants are relocating to Vernon, a user-friendly city that offers larger and more modern industrial facilities,” said Mr. Brett Dedeaux, President at Dedeaux Properties. “3520 E. Vernon was the perfect size and location to accommodate the tenant’s expanding business. We’re happy to have secured a well-established, thriving tenant along with the acquisition of the site in a highly soughtafter infill industrial market.”
“Ledo Capital has shared a long and successful relationship with the Dedeaux Properties team and is pleased to have structured this unique venture with an experienced first-class operator,” said Anthony J. Brent, Managing Partner at Ledo Capital Group.
“This is the fourth transaction that we have successfully completed with Dedeaux Properties in Vernon, each of which has been seamless and resulted in satisfied clients. We are very pleased to welcome another client to a Dedeaux Properties project,” said Mr. Gill, Executive Director at Cushman & Wakefield.
Dedeaux Properties’ development was Vernon’s only build-to-suit opportunity in 2018, a market with a 1.5% overall vacancy rate, according to Cushman & Wakefield Research.
About Dedeaux Properties, LLC Based in Los Angeles, Dedeaux Properties, LLC, is a family-controlled partnership, which has enjoyed a successful history of over 50 years in the development, acquisition and management of over six million square feet of industrial properties located, predominantly, in Southern California & Northern California in addition to the greater Chicago area. Learn more at http://www.dedeauxproperties.com.
About Ledo Capital Group Based in Los Angeles, Ledo Capital Group, LLC has been investing and providing capital since 1997 in industrial opportunities. Ledo is a diversified capital company providing strategic investment capital operators, developers and real estate professionals in the capitalization of opportunistic and value add oriented projects in Southern California, Texas and other select markets. Learn more at http://www.ledocapitalgroup.com
About Cushman & Wakefield Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.