Dedeaux Properties has sold a 290,368-square-foot cold storage and food processing portfolio to a global real estate services company for an undisclosed price.
The portfolio, which is made up of four central Los Angeles-area assets ranging in size from 38,000 square feet to 111,000 square feet, were part of a larger industrial portfolio acquired by the Dedeaux-led joint venture in 2016. Each property was 100 percent leased at closing.
The portfolio consists of food-oriented assets designed for processing, cold storage, packaging and delivery of meal prep kits, as well as ready-to-serve meal deliveries.
“The assets are all located in what is arguably the ground zero location for food processing and distribution facilities in Los Angeles, one of the strongest submarkets of its kind in the United States,” said Brett Dedeaux, Dedeaux Principal. “During our hold period, these assets more than exceeded our business plan and with a huge supply/demand imbalanc
