*Courtesy of RE Business Online (Source Article)
*3520 Vernon Ave, Vernon CA
October 13, 2020
A joint venture between Dedeaux Properties and Ledo Capital has completed the disposition of Vernon Avenue Logistics Center, a cold-storage facility located at the intersection of East Vernon and Alcoa avenues in Vernon. A Los Angeles-based family acquired the facility for $14.8 million.
Built in March 2020, the 46,422-square-foot property features commercial kitchens, cold prep space, a fully racked cooler and freezer, dry storage space, 32-foot minimum clearances, seven dock-high doors and one ground-loading door fronting a 3,700-square-foot refrigerated dock. Additionally, the building includes 3,000 square feet of office and mezzanine space.
The built-to-suit property is fully leased on a long-term basis to a Los Angeles-based restaurant group.
Scott Heaton of Colliers International represented the buyer, while Jeff Chiate and Mike Adey of Cushman & Wakefield Capital Markets represented the seller in the deal.