IE Business Daily Business news for the Inland Empire.
More than 1.1 million square feet of space has been leased at Knox Logistics Center, an eight-building warehouse-distribution project under construction in Perris.
A logistics services company whose name was not released will occupy all of the center’s third building, Knox III, which will cover 692,645 square feet at 22305 Old Oleander Ave., according to a statement released Tuesday by Trammell Crow Co.
Burlington Stores, the department store retailer formerly known as Burlington Coat Factory, will occupy all of Knox IV, which will cover 410,350 square feet at 22405 Old Oleander Ave.
Both buildings are expected to be completed during this quarter. Lease terms were not disclosed.
Trammell Crow, a Dallas-based commercial real estate developer, and Clarion Partners LLC, a real estate management firm in New York, negotiated both transactions.
“There continues to be a strong appetite for Class A logistics space across the country, but that is especially true in the Inland Empire,’’ said Tom Bak, senior managing director for Trammell Crow’s Newport Beach office, in the statement. “Riverside Country is near a talented and large pool of labor, meaning that companies want to expand their footprint here.”
When completed, Knox Logistics Center will cover nearly 250 acres. It’s being developed along Interstate 215 and the Cajalco Expressway directly across from March Air Reserve Base.
Two “spec” building are under construction there, according to the statement.
