IE Business Daily Business news for the Inland Empire.
An Orange County industrial developer will build a 500,000-square-foot warehouse-distribution facility in Moreno Valley.
CapRock Partners in Newport Beach will develop CapRock Global Logistics on 22 acres it has purchased within the World Logistics Center, the planned 2,610-acre industrial park, according to a statement released this week.
CapRock bought the property in an off-market transaction for an undisclosed sum. The seller was described only as a Southern California developer.
The project will be built immediately south of the 60 freeway at the Theodore Street on/off-ramp. When completed it will accommodate e-commerce, manufacturing, and distribution and will have 10,000 square feet of office space, according to the statement.
CapRock is close to completing the I-15 Logistics Center, a 1.2 million-square-foot of Class industrial warehouse in Fontana.
During the next seven years, World Logistics Center is expected to become home to approximately 40 million square feet of logistics facilities, making it the largest industrial operation of its kind in North America, according to the statement.
