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Newcastle Partners Starts Construction on 570k sf of Industrial Facilities in the Inland Empire

3/13/17

San Francisco-based Newcastle Partners recently begain construction of two industrial facilities totaling 570k sf in the Inland Empire cities of Riverside and Chino.

One of the facilities, Meridian Distribution Center II, totals 503.5k sf and is situated on a 26.93-acre land parcel at 22000 Opportunity Way in Riverside. Completion is anticipated for summer 2017 and its value upon build-out is estimated to be approximately $38 mil.

The Class A industrial facility will include 88 dock-high doors, two ground-level doors, 150 trailer parking stalls, and 217 car parking spaces. Providing immediate access to the 215 Fwy, the project is near such corporate neighbors as Sysco Corp, Kia Motors, UPS, and Kraft Foods. Phil Lombardo, Chuck Belden, and Andrew Starnes of Cushman & Wakefield’s Ontario office are responsible for marketing the asset for lease.

The second facility totals 71k sf and is situated on.6 acres of land at 5490 Schaefer Ave in Chino. Completion is anticipated for fall 2017 and its value upon build-out is estimated to be approximately $10.3 mil.

The facility will consist of a state-of-the-art concrete tilt-up, high cube warehouse/distribution building and is convenient to the 71 and 60 Fwys. Patrick Bogan and Steve Coulter of Lee and Associates are responsible for marketing the asset for lease.

Over the past two years, Newcastle has acquired, developed or sold in excess of 4 msf of industrial property in the region, and the firm plans to be even more aggressive in 2017. The company sees the Inland Empire industrial market continuing on its upward trajectory over the coming years, especially due to e-commerce.





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