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PEOPLE'S CHOICE

Developer of the Year and Deal of the Year!

Winners will be announced at the Awards Gala on May 16th!

DEAL OF THE YEAR

15801 W 1st St, Irwindale | Rexford Industrial

Creative Brief: Explain why this deal should be recognized as NAIOP SoCal’s Deal of the Year. The size of the deal is not as important as its creativity, complexity, and impact on the community. 

The sale of 15801 W 1st St in Irwindale represents more than just a transaction; it showcases the power of innovation and collaboration in revitalizing underutilized assets for the betterment of all parties involved—including the community. The sale of 15801 W 1st St goes beyond conventional industrial real estate transactions. It embodies the power of creative solutions and cooperation to revitalize underutilized assets for the greater good of all parties involved.  It showcases the immense potential for positive change when stakeholders collaborate to unlock opportunities to drive meaningful impact. 

Economic Impact: What is the economic impact of the deal?
The sale of 15801 W 1st St represents a catalyst for economic growth and value creation in Irwindale. Part of the transaction included filling the gravel pits on the large piece of land next to the brewery allowing it to be developed and thus create additional jobs for the local community.  The economic impact of restoring quarries to buildable land is significant and not limited to the construction industry. There will be companies that get to benefit from developed real estate and the city benefits when there is more business boosting the economy. By putting underutilized land to work and creating an opportunity to deliver more products to the community, the transaction serves as a driver for positive change.  

Complexity: What contributes to the complexity of the deal?
Despite its size and strategic location, the property faced significant challenges in unlocking its full potential. One of the key challenges involved securing financing for the unentitled land with two giant gravel pits adjacent to the industrial property—a factor that deterred many lenders from extending credit. The sheer magnitude of the site posed a daunting task from the capital markets in the selling side seeking to maximize value and attract investment, underscoring the need for a tailored approach to address its unique complexities.  

Innovation: Describe the creativity and innovation of the deal that makes it unique.
By providing the tenant with options on terms to better align with their needs, and a groundbreaking loan arrangement, the transaction not only met the needs of the seller and borrower but also engaged the tenant in a collaborative effort to restructure the lease and optimize terms for all stakeholders involved. The transaction not only secured financing but also laid the foundation for future development opportunities.  

Project Team: 
Patrick Schlehuber, Rexford Industrial, Chief Investment Officer
Clare Collins, Rexford Industrial, Director of Customer Solutions 

Auto Club Speedway | Corion Properties

Creative Brief: Explain why this deal should be recognized as NAIOP SoCal’s Deal of the Year. The size of the deal is not as important as its creativity, complexity, and impact on the community. 

On February 9th of 2023, Corion Properties Founder and CEO Fred Cordova, Partner Ravi Choudhry, President Al Grazioli, and Associate Vice President JoAnn Horeni represented the Seller in the sale of phase one of 433 acres in the highly sought after Inland Empire West submarket of Southern California by Auto Club Speedway (“Seller”) to Dallas-based Hillwood Investment Properties and CBRE Investment Management (“Buyer”). Phase one included 364.2 acres. Total consideration included a recorded transaction price of $559 million. Phase two, encompassing approximately 69 acres, is scheduled to close at a later date. Located on the Auto Club Speedway property at the juncture of the I-15 and I-10 Freeways in Fontana, CA, the ACS Logistics Center is fully entitled for up to 6,600,000 square feet of modern logistics facilities. Situated at the heart of the Inland Empire industrial market, which includes 632 million square feet total inventory and a 1.1% vacancy (currently 5.0%) in the Inland Empire West at the time of closing, the ACS Logistics Center will include abundant features programmed to mitigate environmental impacts and appeal to sophisticated logistics tenant ESG requirements. 

Economic Impact: What is the economic impact of the deal?
The Inland Empire is one of the nation's largest industrial markets due to its proximity to more than 20 million residents across Southern California and a major gateway for international trade out of the ports of Los Angeles and Long Beach. Persistent demand from logistics and warehousing firms has kept vacancies compressed relative to the nation. Market rents increased 37% year over year prior to the sale, now averaging $1.47 NNN. Net deliveries totaled 33 million square feet in 2023. Although vacancy has increased in 2023 and the pace of new development has slowed considerably, developers remain active with approximately 20 million square feet currently under construction. The presence of high-credit tenants, such as Amazon, Walmart, Target, and General Pacific, attracts institutional investors from across the world and is expected to resume driving demand as the market normalizes from interest rate and inflationary pressures. 

Complexity: What contributes to the complexity of the deal?
Corion, a minority owned boutique commercial real estate advisor and brokerage company, worked very closely with a terrific world-class client (NASCAR) and several world class buyer prospects for nearly three years, sometimes under intense pressure and throughout the night to achieve such an incredibly successful outcome for NASCAR. The process presented many challenges, but ultimately it was an immensely rewarding experience for the Corion team because it validates our mission to impact alpha for our clients with direct personal senior level attention to every aspect of the transaction and utilizing unique market valuation and disposition processes designed to optimize transaction performance. Hillwood and CBREIM, the buyers, broke ground last year on the first phase of the development which will include approximately 2 million square feet. 

Innovation: Describe the creativity and innovation of the deal that makes it unique.
What makes the transaction unique is that it was the largest and highest priced industrial land transaction in the United States ever completed. Entitlements, which included a full EIR were completed in less than 15 months, which in California, where entitlements can be generational, is an incredible feat. Finally, the closing occurred despite tremendous post pandemic headwinds in the capital markets caused by extremely elevated inflation and interest rates. Corion was assigned the task in mid-2020 to evaluate the market value of the property, then quietly identify a small set of carefully selected buyers to engage in a competition for what is perhaps the very best “unicorn” logistics site to ever be sold in the country. 

ESG: What are the deal’s impacts on the environment, sustainability initiatives, and the surrounding community?
The buyer was required to deliver a plan that aimed to provide a land use plan that is sensitive to the environment through the avoidance of sensitive resources, while also being aesthetically pleasing through the application of design guidelines. It sought to place compatible land uses and facilities in appropriate locations. A system of infrastructure would be established, including public and private transportation, sewer, water, drainage, solid waste disposal, and other essential facilities to serve the needs of the project. 

The parking areas may also be used for events like farmers markets and flea markets to encourage public facility uses, civic engagement, and food access. The plan area would employ progressive energy efficiency and zero emission standards. Open space areas would be designated for gathering, parkway landscaping, and stormwater management. Additionally, new public roadways and infrastructure would be developed to support the proposed uses as well as existing ongoing ACS events. Opportunities for pedestrian walkway connections between the parking fields/drop lots would be provided, along with enhanced landscaping, signage, and public art. Furthermore, access to exercise stations, multi-use paths, trail connections, and community art and wellness walks would be integrated into the design. 

Moreover, the development would include the construction and operation of employee-intensive facilities that can take advantage of the potential further expansion of transit facilities for efficient employee transportation. Guidelines for energy efficiency were established to promote the conservation of energy resources in the construction and operation of the proposed high-cube large format logistics and e-commerce uses. 

Project Team: 
Fred Cordova, Corion Properties, Founder and CEO
Al Grazioli, President
Ravi Choudhry, Partner & CIO
JoAnn Horeni, Associate Vice President 

One Paseo | JLL & Kilroy Realty Corporation

Creative Brief: Explain why this deal should be recognized as NAIOP SoCal’s Deal of the Year. The size of the deal is not as important as its creativity, complexity, and impact on the community. 

This transaction was a financing of One Paseo, a premier mixed-use project in Southern California, the has become a beacon of prosperity and vitality for the greater San Diego region. Its "live-work-play" environment has revolutionized the way people experience urban living, breathing new life into the community. By developing a harmonious blend of residential, office, and retail components, this project has created a vibrant and dynamic ecosystem that caters to the diverse needs and desires of its residents and surrounding population. 

Delivered in 2019/2020, the Property consists of: 

608 units of best-in-class multi-family (“One Paseo Living”) 

288K SF of luxury, 100% leased office space with a dynamic roster of national and investment-grade tenants 

96K SF of flagship, open-air retail space with a premier tenant mix serving both the multi-family and office components 

One Paseo's strategic and centralized location in North County San Diego has had far-reaching effects on the community. It has become a catalyst for positive change and urban renewal, revitalizing previously underutilized land and transforming a once neglected area into a thriving hub that inspires other developments in the region. The infusion of energy, opportunities, and services that One Paseo brings has raised the overall quality of life, strengthened the social fabric, and deepened community ties. 

The impact of One Paseo extends beyond its physical components. The project has generated employment opportunities, boosted local business revenues, and attracted a diverse range of tenants and residents who contribute to the region's economic growth. By incorporating a comprehensive and luxurious amenity set, as well as a mix of national and locally-owned businesses, One Paseo fosters a sense of inclusivity, unity, and community engagement. 

Additionally, One Paseo serves as a model for sustainable and community-oriented design. Its commitment to social connectivity and environmental consciousness sets a new standard in the industry, inspiring future projects to prioritize these values. The project has successfully demonstrated that mixed-use developments can be powerful catalysts for neighborhood revitalization and community well-being. 

Although the Property is in San Diego, the NAIOP SoCal YPG Program played an integral part in the genesis of this financing. Orange County based, Greg Brown of JLL met Los Angeles based, Taylor Friend of Kilroy through their involvement in the NAIOP SoCal YPG Program and built a relationship over several years that led to them working together to close this financing transaction.  

In summary, One Paseo's potential recognition as the Deal of the Year would be a testament to its profound impact on the community. Through its innovative mixed-use concept, it has rejuvenated the surrounding neighborhoods, enhanced economic opportunities, fostered social interactions, and created a flourishing environment where residents and businesses thrive. This transformative project stands as a shining example of how strategic and visionary deals can positively shape communities.  

Economic Impact: What is the economic impact of the deal?

The economic impact of this deal is significant and multifaceted. Firstly, JLL securing $375 million of debt financing on a previously unencumbered property demonstrates the confidence and trust that lenders have in the project. This financing allowed liquidity to be freed up on the sponsor's balance sheet, enabling them to pay down maturing bonds and pursue new acquisitions. This infusion of capital not only supports the sponsor's growth strategy but also positively impacts the broader real estate market by facilitating further investment and development. 

The favorable interest rate in the high 5% range secured by JLL is another key economic benefit. This attractive rate allows the sponsor to optimize their cost of borrowing, ultimately reducing interest expenses and increasing cash flow. By taking advantage of a moment in time where core, secured financings had more attractive interest rates than unsecured bond offerings, JLL demonstrated their expertise in identifying and capitalizing on market opportunities. This favorable interest rate not only enhances the sponsor's financial position but also contributes to the overall profitability and viability of the project. 

Additionally, the economic impact of this deal extends beyond the immediate financial benefits. By securing debt financing and strategically managing their balance sheet, the sponsor can effectively deploy capital into new acquisitions. This expansionary activity stimulates economic growth, creates employment opportunities, and contributes to the overall development and vibrancy of the real estate market. Furthermore, by paying down maturing bonds, the sponsor improves their financial standing and potential creditworthiness, which can open up avenues for future financing and investment opportunities. 

Complexity: What contributes to the complexity of the deal? 

Upscale mixed-use product has been redefined by One Paseo. Expansive displays of original modern art from highly acclaimed artists throughout the plaza, an unparalleled selection of dining and shopping, and a core Del Mar location has led to One Paseo becoming one of the most high-profile communities in Southern California.  

The Property offers a strong community and a sense of bonding that truly ties the entire campus together. Entertainment options include: 

One Paseo Art Walk: Located throughout the One Paseo community, visitors can experience expansive displays of original modern art from highly acclaimed artists throughout the plaza. 

December Nights at One Paseo: Each year during the month of December, One Paseo transforms into a Winter Wonderland where guests can enjoy snow cascading from the rooftops, holiday lights, a holiday moonlight cinema, and a 30-foot Christmas tree. 

Summer Moonlight Cinema at One Paseo: Beginning in June each year, One Paseo hosts Summer Moonlight Cinemas, providing an outdoor movie showing for all residents and members of the community to attend. 

Simply put, there is no directly comparable product to One Paseo in San Diego, creating a sense of scarcity in the marketplace and exclusivity for tenants and residents alike. 

ESG: What are the deal’s impacts on the environment, sustainability initiatives, and surrounding community?

Recycling & Waste Management: One Paseo is committed to reducing landfill waste through diversion to recycling and/or compost. A higher diversion rate is great for the environment and it lowers our trash bill – a savings that’s ultimately passed back to tenants. One Paseo hopes for everyone’s participation in order to boost the property diversion rate.

Green Cleaning: One Paseo has always used the most advanced green cleaning products and practices in all of our buildings. The Property is constantly searching for the latest information on green cleaning and update our cleaning services whenever it sees an opportunity to further minimize the environmental impact of its custodial practices. One Paseo also has an excellent Green Cleaning program.

Sustainable Purchasing: One Paseo understands the significant role material selection plays in the operation of a sustainable building. Throughout a material’s lifecycle, extraction, processing, transportation, use & disposal, there are many negative health & environmental consequences. Environmentally responsible purchasing can significantly reduce that impact.

Indoor Air Quality: Optimal indoor air quality is vital to good health and cognitive function. One Paseo recognizes this and as such, have a robust building health program that promotes and verifies great indoor air quality (IAQ). One can visit the EPA’s website to learn what you can do to improve the indoor air quality in your workspace or home. 

Integrated Pest Management: K Pest control is an important strategy for maintaining IAQ because both pests (for example, mice) and pesticides can cause health problems. The building strives to minimize pesticide use and utilize non-chemical options where feasible. 

Project Team: 
Greg Brown, JLL, Senior Managing Director
Charlie Vorsheck, JLL, Director
Sam Godfrey, JLL, Director
Taylor Friend, Kilroy, SVP/Treasurer 

DEVELOPER OF THE YEAR

Ares Industrial Management

Creative Brief: Why is this commercial development company deserving of NAIOP SoCal's Developer of the Year award?

Ares Industrial Management is an industry leader in the Southern California real estate market and beyond. AIM specializes in an internalized development model, focusing solely on concrete tilt-up buildings. The AIM Newport Beach team is responsible for 1,770,475 SF under construction within the last year. AIM’s current development pipeline in Southern California alone consists of nearly 6.9M SF. AIM’s pulse on the real estate market demonstrates the firm’s commitment to delivering world class buildings and furthering the company’s footprint in SoCal’s competitive market. Our team’s extensive knowledge stems from our “boots on the ground” business model. Our local knowledge aids in collaborating with City Staff, general contractors, and community members alike. Our professional management of multiple stakeholders aids to attaining approvals for complicated environmental and other entitlement matters. AIM is deserving of Developer of the Year due to the development footprint, professional expertise, and innovative business model.

Project Significance: Explain the company's most significant project(s) (up to (3) three) and the reason(s) they deserve to be recognized. Highlight and industry-leading features or elements for consideration.

Riverside Logistics Center I&II: This is a 682,700 SF, Class A industrial space with an additional 335 trailer stalls on a 12 acre drop lot and cross dock loading with (2) 185’ truck courts and 109 dock doors. The building can be split between two tenants but is currently being occupied by a single tenant. The building‘s immediate access to the I-215 freeway makes it especially desirable. Additionally, the building is currently anticipating LEED Silver certification. Substantial completion occurred in May 2023.

When the project was initially purchased, it was entitled for (2) separate buildings, with the ~11 acre site initially entitled for an approximately ~250,000 SF building.  Recognizing the importance of additional trailer storage in the Inland Empire, the team pursued approval of the trailer lot, which required a supplemental EIR to the original CEQA document.  Ultimately, the adjacent trailer lot allowed the team to secure a tenant and prelease for the entire building and adjacent trailer lot before substantial completion.

Irvine Commerce Center: This 136,612 SF Class A industrial building is uniquely situated in the Irvine Business Complex along the Jamboree corridor with immediate access to the 405 and 73 freeways. It has state-of-the-art interior office finishes, with a 36’ minimum clear height, 20 dock doors, and 2 grade-level doors. There is a 135’ truck yard with parking for 133 autos and equipped for 13 EV charging stations. The project also received LEED Gold certification. Substantial completion occurred in December 2023.

This development is perhaps one of the most unique industrial sites in all of Orange County.  The underlying zoning for the Industrial Business Complex was originally for industrial, but the area has since updated zoning and allowed development for multifamily and commercial uses throughout the area.  Through close collaboration with the City of Irvine, the development team was able to demonstrate that our proposed development was less intensive than the previously approved project on the site, and ultimately we were able to close on the site entitled in less than 90 days.

Development Volume: What is the company's total commercial real estate square footage developed in Southern California? Developed world-wide? Provide a detailed list for verification that highlights project name, client, location, size and type.

AIM has developed 33 sites in Southern California alone totaling approximately 10.4M SF.

Nationally, AIM has developed 46.5 million SF, totaling 167 buildings and counting.

ESG and Sustainability: Detail the company's incorporation of sustainable design, innovative technology, building wellness and resiliency, as they apply to the development and building operations.

AIM has a newly implemented LEED Volume Program that serves to streamline the warehouse LEED certification process with the U.S. Green Building Council. All of AIM’s developments across the country have a target for LEED Silver. Key sustainability aspects include solar panels, EV charging stalls, bike racks, energy efficient technology, and waste reduction methods during construction.  Additionally, during building operation, we conduct annual third-party physical and transition climate risk assessments, to understand the potential risks and opportunities in the portfolio and highlight potential energy efficiency outliers, along with a biennial tenant engagement survey to better understand our tenant’s needs and satisfaction with AIM as a landlord

ROI: What are the company's strategies for return of investment, economic sustainability, and overall success of the development(s)?

Our team targets top-tier primary markets that have exhibited the most stable occupancy levels with the highest rent growth over real estate cycles.  Ultimately our success lies in our ability to invest / execute across the risk spectrum with our decentralized, vertically integrated industrial team with regional market officers / teams across all major markets in the country.

Challenges: Detail the company's-process for navigating economic challenges, community demands environmental conditions, and EDI initiatives. Economic Development?

We spend a significant amount of time and effort during our initial pursuits, and during due diligence to identify all the key stakeholders for a project and ensure all of the various concerns / objectives for our proposed development are being considered.  Additionally, we have a high level of involvement at the local / state level through organizations such as NAIOP and CBPA to stay ahead of issues that are affecting our industry as a whole.

Involvement: Please describe the company’s involvement in NAIOP SoCal and other community organizations.

Ares Industrial Management is a proud sponsor of the NAIOP SoCal chapter. Additionally, we have several members of our team who sit on the Board for the Inland Empire chapter; Our head of Industrial Asset Management, Steve Young just recently served as President for the Inland Empire chapter.  Nearly all of our team members are also NAIOP SoCal members.

Bridge Industrial

Creative Brief: Why is this commercial development company deserving of NAIOP SoCal's Developer of the Year award?*  

Present in the region for over nine years, Bridge has remained Southern California’s most active industrial developer. Since 2015, Bridge has developed 40 buildings, totaling approximately 7.6M SF of Class A industrial space across Southern California. Bridge, in alignment with its investment strategy to pursue the development of modern industrial properties in supply-constrained core infill industrial markets, continues to seek opportunities for growth and expansion in the market.    

Bridge has completed the development of 27 buildings totaling over 7M square feet across the Greater Los Angeles area since 2015, with an additional 5 state-of-the-art facilities, totaling 700,000 SF currently underway.  

Across the state of California, Bridge has developed or has under development a total of 9.7M SF across 31 developments and 40 total buildings.   

Through the strength of the firm’s California team — and the partnership of local third-party vendors and the local municipalities — Bridge has successfully delivered a pipeline of modern, state-of-the-art facilities that meet the needs of top-tier logistics users seeking space in the highly sought-after industrial markets in California.  

Project Significance: Explain the company's most significant project(s) (up to (3) three) and the reason(s) they deserve to be recognized. Highlight and industry-leading features or elements for consideration.*   

Completed in 2023, Bridge Point Rancho Cucamonga is the year’s largest single-phase industrial campus in the state of California. Totaling ~2.2M SF across two buildings on over 91 acres, the facilities provide tenants with top-tier amenities and sustainable design features such as LED lighting, solar capabilities, and EV-ready parking and truck docks.  The project was awarded LEED Gold by the U.S. Green Building Council. 

Bridge’s 2019 acquisition of the site represented the single largest acquisition in the history of the Inland Empire at that time.  The Bridge team navigated a variety of complicated entitlement challenges, including a required zone change and a City-wide industrial development moratorium.  Bridge negotiated an exception from the moratorium that allowed the project to be delivered to market ahead of competitors. Bridge pre-leased both buildings to two separate users, one of which represented the largest lease transaction in the U.S in 2023. 

In the past year, Bridge also completed two industrial developments in the South Bay submarket, Bridge Point South Bay II and South Bay VII, notable for their difficulty of development and delivery.  Both properties were brownfield sites requiring remediation and coordination with state environmental agencies.  Both sites’ prime infill locations also meant that they were located next to residential uses, requiring additional sensitivity during entitlement and construction.  

Adjacent to the Montrose Superfund Site, South Bay II had been used for the outdoor storage of hazardous waste equipment prior to Bridge’s acquisition.  Bridge remediated the property consistent with the U.S. EPA’s requirements, and worked extensively with neighbors on noise barriers and an innovative clean truck program that incentivizes tenants to utilize green and electric vehicles.  Bridge transformed the site into a state-of-the-art industrial facility totaling 203,877 SF. Located approximately nine miles from the Ports of Los Angeles and Long Beach, the project includes 32-foot clear heights; 21 dock doors; parking for 14 trailers and 204 cars; and ESFR sprinkler stems. The property also features a 185-foot truck court, uncommon for the South Bay.    

Bridge Point South Bay VII posed development challenges that were equally difficult.  The site includes six oil wells dating to the 1920s that required re-abandonment in coordination with the state’s oversight agency, CalGEM.  The property is also located next to, and across the street from, apartments and single-family homes, requiring extensive community dialogue.  Prior to development, Bridge worked with homeowners on the building’s design and incorporated an enhanced outdoor employee break area.  Located in Torrance within the prime South Bay submarket, South Bay VII now features a 174,211 SF modern, Class A industrial facility with 32-foot clear heights; 21 dock doors; a 135-foot truck court; 189 parking spaces; and ESFR sprinklers.  

Development Volume: What is the company's total commercial real estate square footage developed in Southern California? Developed world-wide? Provide a detailed list for verification that highlights project name, client, location, size and type.*  

Bridge has completed the development of 27 buildings totaling over 7M square feet across the Greater Los Angeles area since 2015, with an additional 5 state-of-the-art facilities, totaling 700,000 SF currently underway.    

Across the state of California, Bridge has developed or has under development a total of 9.7M SF across 31 developments and 40 total buildings.    

From the onset of the company, Bridge has focused on the development of Class A industrial projects in supply-constrained core infill markets across the U.S. and the U.K. Since 2000, Bridge has developed 74 million square feet of industrial real estate. 

The entirety of Bridge’s existing industrial portfolio is listed at https://bridgeindustrial.com/markets/ 

ESG and Sustainability: Detail the company's incorporation of sustainable design, innovative technology, building wellness and resiliency, as they apply to the development and building operations.*  

Bridge is committed to the incorporation of ESG and sustainability in all aspects of the business, including its building standards. To solidify its commitment to adopting sustainable design principles, in 2022 Bridge pledged to pursue LEED Core & Shell certification for all projects in the United States, and has registered 40 buildings in the U.S. for LEED certification to date.  

Surpassing Bridge’s minimum commitment, the California team has achieved LEED Gold certification standards on a number of its most recent developments.  Bridge projects awarded LEED Gold in 2023 include Bridge Point South Bay II, both buildings at Bridge Point Rancho Cucamonga, and Bridge Point Oakland. 

At the forefront of modern sustainable design, Bridge has integrated several green building technologies at each of its developments.  Solar will be installed on Bridge’s most recent buildings, totaling approximately 21 acres (930,000 sf) of solar panels.  The solar to be installed on Bridge Point Rancho Cucamonga alone will be one of the largest rooftop solar installations in the area.  Bridge now incorporates EV conduits to all buildings’ truck dock doors and/or trailer parking to ensure that its buildings are future-proofed for electric trucks.  Finally, Bridge committed to purchasing carbon offsets for the first time in 2023 for one of its development projects. 

Bridge also specializes in redeveloping brownfield properties, transforming contaminated and environmentally challenged sites into modern new developments that are economic drivers for the community.  Bridge Point South Bay V and South Bay VI were completed in 2023 on adjacent properties formerly used as an industrial oil field.  Upon acquisition of the sites, Bridge worked in tandem with the City, County, and CalGEM to shutter the oil wells permanently, and then repurposed the neglected, underutilized properties into sites for two Class A industrial developments together totaling 208,261 SF.  At Bridge Point South Bay VII, Bridge re-abandoned six oil wells, and at Bridge Point South Bay II, Bridge remediated an environmentally contaminated, nuisance site and built a transformative, premier industrial building.  Bridge’s commitment to revitalizing neglected, infill sites and constructing socially responsible, green buildings has been transformative for the communities where Bridge operates.  

ROI: What are the company's strategies for return of investment, economic sustainability, and overall success of the development(s)?*   

Across its Southern California portfolio, Bridge has successfully delivered a wide range of modern, Class A industrial buildings — from 60,000 SF to over 1 million SF feet in size — addressing the unique needs of warehouse users. Bridge’s advantage lies in its targeted core market of infill development often on brownfield sites where Bridge has superior expertise.   

Contrary to many industrial developers, Bridge welcomes the acquisition of sites requiring extensive remediation and restoration efforts where Bridge can add the most value.  Bridge’s deep experience cleaning up environmentally challenged sites and its strong relationships with various environmental agencies allow it to expeditiously transform underutilized properties and deliver high-value assets in extremely competitive markets like Los Angeles County. 

Challenges: Detail the company's-process for navigating economic challenges, community demands, environmental conditions, and EDI initiatives. Economic Development?*  

Presented with California’s unique entitlement process and set of environmental regulations, as well as active communities resulting from a high volume of industrial projects over the last several years, Bridge has developed a tailored approach to partnering with governing officials, planning staff, and the community.  

The Bridge team collaborates with local municipalities and stakeholders extremely early in the development process, sometimes before even closing on a site.  Bridge’s goal is to work in tandem with local agencies to ensure that all parties have a consistent vision for redevelopment that can be fully supported by staff and decision-makers.  Concurrent with agency engagement, Bridge also works with local residents and stakeholders to address concerns and incorporate community comments.     

At Bridge Point South Bay VII, Bridge engaged adjacent homeowners prior to submitting applications to the city.  Bridge presented a variety of building designs to the residents, and gave them the opportunity to choose a design that emphasized the pedestrian scale of the building’s façade.  Bridge also worked with the City of Los Angeles’ Urban Design Studio on both the building’s architecture and site plan; at the City’s suggestion, Bridge incorporated enhanced employee break areas and pedestrian connections into the project.   

Bridge Point South Bay II included extensive discussions with agency staff and neighbors to ensure that building operations would be compatible with adjacent homes.  Bridge worked in close coordination with LA County staff to develop an innovative clean truck program that incentivizes tenants to use zero or near-zero emissions trucks, and proposed quiet nighttime hours for the areas of the property immediately next to residences.  By working in collaboration with staff and homeowners, Bridge was able to address all concerns and move forward with development of a 203,877 SF state-of-the-art industrial building.  

Bridge Point Rancho Cucamonga was challenged by the City’s General Plan Update and an industrial moratorium adopted in the middle of the project’s entitlement process.  Due to Bridge’s extensive work with the city prior to adoption of the moratorium, Bridge Point Rancho Cucamonga was one of only two projects that was exempted from the moratorium and allowed to continue its entitlements, allowing Bridge to deliver both buildings to market quicker than competitors.  Bridge Point Rancho Cucamonga’s Development Agreement also included a number of economic benefits for the city, and included sustainability initiatives like rooftop solar to offset both buildings’ energy usage.  

Bridge’s skillful approach to navigating agency staff and stakeholder objectives has allowed it to be a valuable community partner and successful developer in the most competitive Southern California markets.  

Involvement: Please describe the company’s involvement in NAIOP SoCal and other community organizations.*  

Bridge is highly invested in the local communities in which it operates, participating in various public engagements and local community initiatives. Bridge is currently a Platinum Sponsor and Member of NAIOP SoCal and continues to serve as a steward of the organization's community-oriented mission. Through the NAIOP SoCal organization, Bridge has been recognized for Developer of the Year and Industrial Project of the Year for Bridge Point Long Beach, in 2023 and 2022 respectively.  

Bridge recently developed an innovative “Adopt-A-School” program, “adopting” local Jordan High School, which is a high-needs school located in the same Los Angeles community as many Bridge projects. In 2023 Bridge covered the cost of prom for the entire student body, including venue and transportation costs; funded food trucks for College and Senior Day; and purchased Thanksgiving food baskets for 250 families.  Bridge also made regular visits to Jordan High School for all-office service days, building furniture for the school’s first robotics/STEM lab; beautifying the campus by landscaping its front door; and participating in College Day.  

Bridge’s Senior Vice President of Development, Heather Crossner, is a member of NAIOP’s Industrial Policy Task Force and is actively engaged with NAIOP’s Legislative Affairs staff. She also serves on the board (for the Support Corporation) of a local City of Los Angeles charter school, Citizens of the World. With multiple locations across the county, the tuition-free school is accessible to a diverse population of children of various socioeconomic and cultural backgrounds, fostering a more integrated learning environment. 

Dedeaux Properties

Creative Brief: Why is this commercial development company deserving of NAIOP SoCal's Developer of the Year award? 

Dedeaux Properties embraces a team focused culture of high-quality executives who have joined together to become the leading California-based firm focused on acquiring, developing and managing logistics-orientated industrial facilities in strategic port-focused West Coast markets.

This team-first culture was initiated by our co-founder, the legendary Olympic & Collegiate coach and international baseball ambassador Rod Dedeaux with an attitude of creating aligned value for our partners, tenants and team members.

The firm is widely recognized for developing innovative, next generation logistics facilities due to it’s affiliation with national third party logistics firm DART Warehouse Corp. and it’s tenant roster and strong relationships with the leading logistics firms in the country. This led to over 2,000,000 square feet of distribution facilities, truck terminals, trailer yards and cold-storage buildings currently in various stages of entitlement and construction to add to an existing portfolio of over 14,000,000 square feet. 

Project Significance: Explain the company's most significant project(s) (up to (3) three) and the reason(s) they deserve to be recognized. Highlight and industry-leading features or elements for consideration. 

2238 S Lilac Ave, Rialto, High velocity terminal
Category: industrial (subcategory: logistics)
Complete 8/4/2023
47k SF, 12 acres, 85 dock hi positions, 226 trailer parking stalls. 6k SF 2-story office
DPL entitled the site unique to logistics operations with strategic understanding of niche product type due to family business (Dart). Opportunity to acquire neighboring residential land (2 acres) and rezoned to incorporate additional trailer parking.
Marketed by: Colliers
G/C: RM Dalton

750 Marlborough Ave, Riverside
Category: Industrial (warehouse)
326,350 SF, recognized as Development of the Year by CoStar. Topographical challenges adjacent to a mountain range. Overcame drainage issues

Development Volume: What is the company's total commercial real estate square footage developed in Southern California? Developed world-wide? Provide a detailed list for verification that highlights project name, client, location, size and type. 

Dedeaux Properties has a prominent history of development in the southern industrial California market, specifically transportation-oriented properties. The company’s portfolio is currently in excess of over 13.5 million square feet. Dedeaux Properties is committed to serving the needs of existing customers while selectively acquiring strategically located sites for speculative development including high-velocity distribution warehouses, cross dock truck terminals, and trailer yards (IOS).

For well over 50 years, Dedeaux Properties and our related entities have actively been acquiring strategically placed industrial facilities starting with the City of Commerce and eventually spreading to several markets within California. With the long history of ground-up development, Dedeaux Properties acquires and entitles sites primed for logistical operations. Dedeaux Properties also repositions existing assets to add value to the project and larger community. We are consistently pursuing investment opportunities that meet our criteria.

Dedeaux Properties actively looks for industrial investment opportunities of 2 acres and above in infill markets and +5 acres for developing markets. Our focus is in multiple regions within California that include the Inland Empire, Greater Los Angeles Area, Orange County, Central Valley, and the Bay Area. Dedeaux monitors and has interest in emerging markets with surrounding supply chain operations.

You may find our portfolio here: https://dedeauxproperties.com/portfolio/ 

ESG and Sustainability: Detail the company's incorporation of sustainable design, innovative technology, building wellness and resiliency, as they apply to the development and building operations. 

Dedeaux Properties utilizes the latest advancements in sustainability building from LED lighting, durable materials, energy efficiency, etc. Moreover, Dedeaux closely monitors advancement in the trucking industry and has implemented electronic truck charging stations at its latest projects 

ROI: What are the company's strategies for return of investment, economic sustainability, and overall success of the development(s)? 

Our approach is three-fold: 

  • Focus on core product types - Industrial logistics oriented projects in high density regions. 
  • Develop and maintain relationships with tenants and key players in the industry 
  • Community engagement - DPL strives to add value to communities as many of our projects bring local jobs and utilize union labor. Moreover, Dedeaux Properties actively volunteers and sponsors local community events, from summer concerts, to park cleanups, and food drives year round. 

Challenges: Detail the company's-process for navigating economic challenges, community demands environmental conditions, and EDI initiatives. Economic Development? 

 Remain focused on our existing projects and clients and partners
Leverage our historic family relationship (i.e. Dart) for feet on the ground insights into market changes to help navigate thru an everchanging environment
Be responsive to community concerns thru the aforementioned engagement to understand concerns and work to a mutual resolution

Involvement: Please describe the company’s involvement in NAIOP SoCal and other community organizations. 

Almost every Dedeaux team member maintains a membership to either NAIOP SoCal (or IE) chapter. The firm sponsors SoCal and IE each year and actively participates in events and engagements. 

Project Team:
Jessica Pisula, Dedeaux Properties, Director of Marketing
Ben Horning, Dedeaux Properties, Director of Development
Alex Filler, Dedeaux Properties, Senior Director
Matt Evans, Dedeaux Properties, Chief Investment Officer
Brett Dedeaux, Dedeaux Properties, Principal and Managing Director  

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