IE Business Daily Business news for the Inland Empire.
NAIOP Inland Empire is scheduled to hold its Industrial 2016 Kick Off and Networking Event Feb. 3 at the Ontario Convention Center.
The gathering, which will run from 1:45 to 6 p.m., will include a review of the industrial and office markets in the Inland Empire in 2015 and a market forecast for this year, said Robert Evans, chapter president.
Luis A. Belmonte, a partner with Seven Hills Properties, a real estate development company in San Francisco, will moderate a panel discussion on the state of the Inland Empire market.
About 200 people are expected to attend, Evans said.
This year’s event will also feature The Most Compelling Transaction of 2015 award, which will be presented to one of three finalists:
Hillwood, for its Gateway South Building 3 at the Alliance California project in San Bernardino. That project, at Orange Show Road and South Waterman Avenue, was described by NAIOP as being “very complex” because Hillwood was required to move and drill two upgraded water wells at the site, which serves Riverside’s public water systems.
Panattoni Development Co. for its closing escrow on 23 parcels in Rialto. The company had to negotiate with 17 different owners in order close the $19.2 million deal. The site, at Baseline Road and Alder Avenue, is the future home of the Interstate 210 Logistics Center III, a 740,514 square foot project, according to NAIOP.
Prologis, for its acquisition of KTR Capital Partners’ complete real estate asset and operating platform. The $5.9 billion transaction was completed in May and took “months of intense negotiation, underwriting, due diligence and complex banking,” NAIOP stated.
Officials from all three companies argue why their project should get the Most Compelling Transaction award, after which the audience will select the winner.
“We’ve never done this before,” Evans said of the audience vote. “We’ll see how it goes.”
The upcoming event condenses two traditional NAIOP events – its mid-year market review and the REXIE Awards – into one gathering, Evans said.
NAIOP is based in Herndon, Va. It’s the largest U.S trade association for real estate professionals.
