Transwestern Development Co. (TDC®) today announces its National Logistics Group has closed on a 22.34-acre site to develop a two-building industrial project encompassing approximately 337,856 square feet of Class A warehouse space. As one of the last developable parcels in the submarket, the site is in the highly desirable city of Eastvale, California, and provides frontage on Limonite Avenue near Hellman and Remington Avenues. TDC plans to break ground on the project in December of this year, with substantial completion expected in late summer 2020.
“This was a rare opportunity to take advantage of one of the last remaining land parcels in the Eastvale submarket of the Inland Empire West,” said Stephen Batcheller, Western Regional Partner in TDC’s National Logistics Group. “The Inland Empire lures both large and small businesses that are heavily investing in infrastructure and providing thousands of jobs, leading the charge to strengthen the local economy. We look forward to meeting the region’s demand for modern warehouse space.”
Both state-of-the-art buildings will be unique in the market and provide fenced and secure truck courts, ESFR fire suppression, and extra yard trailer storage. Building 1 will total 267,652 square feet and have 36-foot ceiling clearance, with Building 2 encompassing 70,704 square feet and a 32-foot ceiling clearance.
“Tenant priorities in the industrial real estate market are shifting as companies searching for product on the West Coast are gravitating toward regions such as the Inland Empire where they can improve their supply chain and take advantage of business incentives,” said John Privett, Southern California Partner in TDC’s National Logistics Group. “As a result, the Inland Empire is the nation’s top commercial real estate market for industrial absorption with healthy projections for rent growth.”
The site is in the Inland Empire West submarket, which has a current vacancy rate of only 1.9%, substantially below the national average of 4.4%. The Inland Empire West offers unparalleled infrastructure and is home to the busiest rail corridor in the U.S., served by Union Pacific and BNSF. The Inland Empire West also offers users lower drayage rates than other Inland Empire areas, as it is located approximately 60 miles northeast from the Ports of Los Angeles and Long Beach.
The location is an infill area that attracts distribution users given the immediate access to the major thoroughfares, including State Route 60 and Interstates 15 and 10, as well as proximity to the Ports of Los Angeles/Long Beach, the UP Intermodal Container Facility, the UPS and FedEx hubs, and both the Ontario International Airport and Chino Airport. Well-known surrounding tenants include Walmart, Amazon, FedEx, NFI, Famous Footwear, Honda, Yokohama and UPS.
TDC has assembled a talented team of experts to execute the project, including:
- Fullmer Construction as the general contractor;
- HPA as the architect;
- Thienes Engineering as the civil engineer;
- Southern Cal Geotechnical as the geotechnical engineer;
- Avocet as the environmental engineer; and
- CBRE as the leasing team.
ABOUT TRANSWESTERN DEVELOPMENT CO.
Transwestern Development Co. (TDC®) is a diversified business with expertise in all commercial property types. The firm executes projects through a variety of venture and contract structures and has been creating commercial landmarks for itself, its partners and valued customers throughout the U.S. since 1978. TDC operates as a principal, investing capital alongside its institutional equity partners in the development of speculative and build-to-suit projects, and as a fee developer for clients and user-owners. Part of the integrated Transwestern enterprise, the firm capitalizes on the market insight and operational expertise of its affiliates, which include a diversified real estate services firm with 34 U.S. offices and a real estate investment management company. For more information, visit transwesterndevelopment.com.
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