IE Business Daily Business news for the Inland Empire.
A 1.1-million-square-foot industrial building that broke ground recently in San Bernardino is expected to bring at least 250 to 500 jobs to the city.
The third building of the AllianceCalifornia Gateway South logistics development doesn’t have a signed tenant, but one should be secured before the project is completed at the end of this year, according to the project’s developer.
“Our history is to have a tenant before a project is finished, and that’s what we expect to happen here,” said John Magness, senior vice president of Hillwood Investment Properties in San Bernardino. “There’s been a lot of interest in the building.”
The project, which is being built at 550 Orange Show Road, will cost about $33 million to construct, or roughly $30 a square foot. Hillwood Investment will own the building and act as landlord.
AllianceCalifornia Gateway South 3 could create upwards of 1,000 jobs if it’s used as an e-commerce center, which it will be equipped to do, Magness said.
“The [Inland] industrial market is doing very well,” Magness said. “There are a lot users coming into the market, so we know there will be some competition, but we still expect to get a good tenant.”
Hillwood Investment develops industrial and office properties throughout the United States. It’s responsible for converting the former Norton Air Force Base to civilian use, a project that is almost complete.
The project’s groundbreaking was announced last week.
