*Courtesy of Connect California, Commercial Real Estate News (Source Article)
*Image - The Marathon Business Center in Livermore
December 22, 2020
Stockbridge completed the recapitalization of a majority interest in a 10-asset, logistics-oriented portfolio, formerly 100% owned by Los Angeles-based Dedeaux Properties. In addition to owning these assets together, the joint venture plans to acquire and build additional industrial assets in California.
Stockbridge’s Mark Carlson says, “Stockbridge is excited to expand its industrial footprint into these transportation-oriented assets. This venture marks a commitment to a truly user-focused logistics strategy.”
Totaling 530 dock doors and 86-acres of land, the California portfolio consists of nine existing infill assets, located throughout the Los Angeles, Inland Empire, and San Francisco Bay Area markets, and one asset currently under-construction in San Bernardino. Included in the portfolio were six truck terminals, two truck and container storage yards, and two traditional warehouses.
Dedeaux Properties’ Brett Dedeaux says, “Stockbridge shares our commitment and vision for the space and this joint venture leverages our industry leading expertise, which is built on 80-years of experience in the logistics and industrial marketplace.”