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 lease of 7580 Cherry Avenue to Pacific PPE Corporation (3PE), a group of manufacturing entrepreneurs dedicated to providing high-quality personal protective equipment to help save lives. 3PE will occupy the entire 84,364-square-foot building for five years.
Situated in the heart of the Inland Empire West marketplace, the property benefits from its location between two major arterials, just south of the 210 Freeway and north of Interstate-10. Corporate neighbors include Mercedes-Benz, Target, Cardtronics, LG and FedEx.
“Location was the primary driver for 3PE to this property and we are pleased to welcome the company as our newest customer in Southern California,” said Matt Mexia, Partner in Southern California for Dermody Properties. “As the company continues to grow, the need for distribution space was necessary and 7580 Cherry Avenue is within close proximity to their production site. It’s also ideally situated for West Coast distribution operations.”
According to the company’s website, 3PE recently built its first N95 respirator production line in the greater Los Angeles area. Production officially began in late December with a capacity of 300,000 pieces per day.
Dermody Properties initially acquired 7580 Cherry Avenue in 2020, along with 7630 Cherry Avenue, which was recently leased to Tremco Construction Products Group.
“The Inland Empire continues to be one of the strongest markets for industrial activity in the country,” said Elizabeth Kauchak, Chief Operating Officer for Dermody Properties. “As such, Dermody Properties remains focused on staying in front of the growth trend by sourcing strategic acquisition and development opportunities best suited for our customers.”
Phil Lombardo, Andrew Starnes and Cruise Adams of Cushman & Wakefield represented Dermody Properties in the transaction. Vivian Wang of NAI Capital Commercial represented the customer.