San Bernardino, Calif. – Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is pleased to announce the acquisition of 5685 Industrial Parkway in San Bernardino, Calif.
The 250,111-square-foot logistics facility, occupied by Dean Warehouse Services, Inc., signifies another major investment by Dermody Properties within the Inland Empire.
“We look forward to working with the existing customer, Dean Warehouse Services, and to adding value to the property by refreshing aspects of the building,” said Matthew Mexia, Southern California Region Partner at Dermody Properties. “This very functional asset has a lot to offer and will compete well with Class A and under-construction projects in the market.”
Founded in 1980 by Bradford A. Dean, CEO, Dean Warehouse Services, Inc. has grown to be a large, privately held supply chain management firm in the United States. Dean’s network of facilities contains upwards of two million square feet of space nationwide.
This opportunity was brought to Dermody Properties by Colliers International–specifically, the very experienced team of Mark Zorn and Corey Whitman.
Situated on Industrial Parkway in San Bernardino, a well-positioned logistics location within the Inland Empire East, the facility is in close proximity to major freeways–including Interstate 215–intermodal yards and airports. The modern specifications of the building include a 30’ clear height, a 180’ truck court, 36 doc-high positions with dock equipment on every other door, LED lighting, an ESFR fire protection system and trailer parking.
“Demand remains competitive in the Inland Empire East, which is proving resilient despite economic headwinds,” said Tim Walsh, Partner and Chief Investment Officer at Dermody Properties. “The scope of the construction pipeline reinforces the status of the Inland Empire as the hub of the U.S. industrial market and we expect a continued favorable relationship between supply and demand.”
Dermody Properties currently has five available properties in its Southern California Region totaling 1.5 million square feet. Currently available for occupancy are 7580 Cherry Avenue and 3120 E. Mission Boulevard.
LogistiCenter℠ at 55 Buildings 1 and 2, are available for pre-leasing and available for occupancy this quarter, and LogistiCenter℠ at Ontario Ranch is available for pre-leasing and will be ready for occupancy in Q4 2023. For more information, please visit the region page on the Dermody Properties website.
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About Dermody Properties
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For more information, visit www.Dermody.com.
