IE Business Daily Business news for the Inland Empire.
A 6.6-million-square-foot logistics facility is being planned near Auto Club Speedway in Fontana.
The ACS Logistics Center will be developed on land purchased last month by Hillwood Investment Properties and CBRE Investment Management, according to Corion Properties.
Santa Monica-based Corion Properties helped negotiate that transaction. Hillwood Investment Properties is a subsidiary of Dallas-based Hillwood, which develops large logistics and industrial projects. Hillwood converted the former Norton Air Force Base into San Bernardino International Airport, a cargo/logistics operation that recently began offering its first commercial passenger flights.
“The ACS Logistics Center is a true ‘unicorn’ site, and perhaps the best site of its size in the United States,” said Fred Cordova, founder, and chef executive officer of Corion, in a statement. “We worked very closely with [former speedway owner NASCAR] and the buyers for nearly three years to [complete this sale.]”
NASCAR, the entity that oversees U.S. stock car racing, sold 433 acres – the speedway and surrounding properties – for nearly $560 million. Hillwood is planning phased improvements to the property, including the construction of a shorter race track.
ACS Logistic Center will be developed on 69 acres in the second phase, which is expected to close on or before Dec. 31, 2026, according to the statement.
After all the money and time, spent tearing down parts of
Old Kaiser Steel mill…redoing a portion 4 use of now….
Califonia Steel Industries, leave some of that property alone!
These r JOBS we r losing. Environmental issues, this state
of Calif. does not want 2 fool with. Let the Japanese &
Brazilians make and send pre made steel slabs 2 USA
where we roll out, companies buy and make i to products.
Its still a working company, 4 the United States 2 hold down
with jobs. Thousands. Shame, on United States!
We need the JOBS