September 30, 2019 — Dedeaux Properties, on behalf of one of its managed institutional partnerships, has signed Cardinal Health to a long-term lease to occupy an entire 1,012,995-square-foot, state-of-the-art warehouse and distribution center in Riverside, CA.
Acquired last month by Dedeaux Properties, the recently completed facility is one of two high-quality, strategically located logistics buildings comprising the 1.4 million-square-foot Dedeaux Sycamore Canyon Distribution Park. Dedeaux Properties is currently nearing completion on an adjacent 361,346-square-foot warehouse building, which is expected to be available for occupancy during the 4th quarter of this year.
Dedeaux Sycamore Canyon Distribution Park is strategically located near Interstate 215 and California 60, main distribution routes to major cities in the Western United States. Sycamore Canyon Business Park will be a key West Coast medical products distribution center for Cardinal Health, a global integrated healthcare services and products company. The Dublin, OH-based company provides medical products and pharmaceuticals to hospitals, health systems, pharmacies, ambulatory surgery centers, clinical laboratories and physician’s offices worldwide.
Riverside is one of the largest industrial submarkets within Southern California’s Inland Empire. With an industrial inventory of more than 580 million square-feet, the Inland Empire boasts a vacancy rate of less than four percent, making it one of the strongest warehouse and distribution markets in the United States.
Ian DeVries and Chris DeVries of Colliers International represented Dedeaux in the lease transaction. Dan de la Paz from CBRE’s Ontario office represented Cardinal Health.