Sunday , May 26 2024
Breaking News
Inland Empire Business Daily Construction News.003
Inland Empire Business Daily Construction News.003

Three industrial buildings slated

Newcastle Partners will soon start construction on three industrial buildings in the Inland Empire.

The buildings – one in Redlands and two in unincorporated Riverside — combined will cover 824,300 square feet and be built without signed tenants, according to a statement.

The projects are:

  • Redlands Commerce Center, a joint-venture with Sun Life. The 190,000 square-foot project at 17575 W. San Bernardino Ave. will cost $20.1 million and is expected to be completed this month;
  • Newcastle and the Rockefeller Group Development Corp. will develop a 345,000-square-foot industrial warehouse and distribution center on 16.8 acres on Harvill Avenue. Construction will start later this year and be completed in the third quarter of 2021; 
  • In another joint venture, Newcastle and Rockefeller Group will develop the Val Verde Distribution Center at the northwest corner of Cajalco Road and Harvill Ave. in Riverside County.  Construction on the 289,300 square-foot industrial project in the fourth quarter of 2020 with completion expected in the third quarter of next year.

“We’ve witnessed very strong absorption in the Inland Empire due to the unprecedented increase in e-commerce based upon the global pandemic,” Dennis Higgs, managing partner with Newcastle Partners, said in the statement. “New industrial product remains in high demand by major e-commerce firms that need to locate or expand in the heart of the Southern California supply chain. These state-of-the-art industrial facilities will help meet that demand.”

Check Also

building sold

West end industrial building sold

A 49,600-square-foot industrial building in Corona has been sold for $15.9 million. The building, at …

Leave a Reply

Your email address will not be published. Required fields are marked *