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DECA Breaks Ground on Massive Spec Project in Perris
San Francisco-based DECA broke ground on an 855,330-square-foot, speculative cross-dock warehouse/distribution facility in Perris, within Riverside County. The new warehouse facility is the second phase of Perris Gateway, following the launch this past March of construction on a presold, 27,000-square-foot retail space along Ramona Expressway.
“We’re thrilled to be starting construction on Perris Gateway,” said Travis Duncan, VP of development for DECA. “With grading on the industrial project having commenced, we’re enabling 1,200 construction jobs and over 800 permanent jobs when the building is fully operational next summer.”
DECA recently closed on a $135-million construction loan to fund development of the warehouse facility. The loan was provided by Affinius Capital and Bank OZK. The equity commitment originated from DECA’s principals and Wildcat Capital Management.
Cushman & Wakefield’s Andrew Starnes, Phil Lombardo and Cruise Adams have been hired to lead leasing efforts for the warehouse development, which will offer 40-foot clear heights.
- ◦Development