IE Business Daily Business news for the Inland Empire.
Ground has been broken in a 1.1 million-square-foot industrial building in San Bernardino.
The third building of the AllianceCalifornia Gateway South logistics project will be constructed on 50 acres at 550 Orange Show Road and is expected to be finished by December, according to a statement released Thursday by Colliers International.
Hillwood Investment Properties, one of the world’s largest industrial development companies, is the developer.
The project, the largest speculative industrial building now under construction in the Inland Empire, could end up a fulfillment center or a corporate headquarters, said Ian DeVries, executive vice president with Colliers.
The goal is to fill the building with one tenant, DeVries said.
“There’s already been some interest,” said DeVries, who is helping to market the project. “We don’t know who we’re going to get but we know we’re going to get someone. The vacancy rate in that area for buildings that size is about two percent, so there isn’t much risk [developing on speculation].”
Building Three will be near Interstates 10, 210 and 215, making it an ideal spot for a logistics operation. It will also be close to San Bernardino International Airport and Burlington Northern Santa Fe’s Intermodal Container Facility.
Several major corporations, including Amazon.com, Mattel, Pep Boys, Kohls and Stater Bros. operate large warehouse-distribution operations in the area.
The AllianceCalifornia logistics complex covers about 2,000 acres, according to the statement.
