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Dart Warehouse, 99 Cents Only Stores Complete $190M Sale-Leaseback
In one of the year’s largest industrial real estate transactions in Los Angeles County, a Dedeaux family-controlled entity acquired an 882,000-square-foot distribution facility in Commerce, CA from the 99 Cents Only Stores in a $190-million sale-leaseback. It’s adjacent to the Hobart Intermodal Railyard, one of the most important transfer facilities of containerized cargo for the Port of Los Angeles.
“Over the years, we kept an eye on this property as a point of expansion for our East Los Angeles complex,” said Terry Dedeaux, chairman of the Board at Dart Warehouse Corporation and a partner in Dedeaux Properties. “This substantially increases our footprint for both our property clients as well as our logistics partners. This acquisition completes a vision my father, Rod Dedeaux, held since the inception of Dart Warehouse Corporation in 1960.”
Lee & Associates’ Jack Cline, in conjunction with Eastdil Secured, facilitated the sale.
- ◦Sale/Acquisition
