IE Business Daily Business news for the Inland Empire.
Ground has been broken on an industrial project in Moreno Valley that will cover more than 200,000 square feet.
The Centerpointe Commerce Center, a warehouse-distribution facility, is being built without a signed tenant, according to Rockefeller Group, the New York company that is building the project.
Rockefeller Group bought the property from Newcastle Partners Inc., a San Francisco real estate investment and development company, in April. Cost of the transaction was not disclosed.
Rockefeller Group has recently completed about two million square feet of industrial product in Riverside and San Bernardino counties. Centerpointe Commerce Center will be built on Frederick Street, with easy access to the 60 and 91 freeway and Interstate 10.
The project, which will be marketed by Lee & Associates, is expected to be completed next summer. It’s exact address was not disclosed
