IE Business Daily Business news for the Inland Empire.
Dedeaux Properties, a Commerce-based real estate development and management firm, has acquired certificates of occupancy for six industrial properties in the Inland Empire.
The projects include a 167,000-square-foot warehouse in Ontario, a 326,000-square-foot warehouse in Riverside, a 165,000-square-foot high-velocity distribution center in Fontana, a 53,000-square-foot cross-dock facility in Perris, a 52,000-square-foot cross-dock property in San Bernardino and an 83,000-square-foot distribution facility in Rialto.
A certificate of occupancy means a building meets all building codes, zoning laws, and other government regulations and is ready to be moved into.
Southern California is experiencing the lowest amount of new industrial inventory in more than a decade. Only 12.6 million square feet was under development in the Inland Empire during the fourth quarter of 2024, according to the statement, which cited a report by Cushman & Wakefield as its source.
“The disruption in the capital markets made it difficult for many developers to obtain construction financing, which has only served to thin the market and give it time to absorb the record amount of existing inventory,” said Dedeaux Properties President Matt Evans in the statement.
