IE Business Daily Business news for the Inland Empire.
Construction has begun on a 613,000-square-foot industrial project in Riverside.
Sycamore Hills Distribution Center is being built on 34 acres along Alessandro Boulevard and Barton Street, just west of Interstate 215’s Alessandro Boulevard on/off ramp, according to a statement.
The Rockefeller Group is developing the $87.2 million project, which will consist of two buildings, one 400,000 square feet, the other 203,000 square feet.
“Although the industrial market slowed in 2023 and the first quarter of 2024, we believe that industrial buildings in these size ranges will be in demand by prospective tenants soon,” said James V. Camp, senior managing director for Rockefeller Group’s west region.
The buildings, which will be available for sale or lease, are being developed on separate parcels. Lee & Associates will market the project, which is expected to be completed early next year, according to the statement.
