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10/04/21
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Alere Property Group is under construction on two new state-of-the-art industrial warehouse complexes in separate locations in Chino. Combined, the two speculative ground-up development projects will add approximately 626k sf of industrial space to the Inland Empire West submarket. Named Euclid Industrial Park and Chino Commerce Park, the projects will provide a range of product sizes with above-average building characteristics to accommodate a variety of tenants and uses.
Both projects are in highly sought-after locations for distribution and logistics along prominent transportation corridors. Chino is located at the convergence of San Bernardino, Los Angeles and Orange counties, and is approximately 50 miles from the ports of Los Angeles and Long Beach and the Los Angeles International Airport. The city is accessible to a large pool of skilled labor and consumers in the immediate area. According to Daum Commercial, Chino holds approximately 15% of the Inland Empire’s market share for industrial property and had an overall vacancy rate of 1.87% in 2Q 2021.
Euclid Industrial Park
Euclid Industrial Park is a 360k sf development consisting of eight warehouse buildings ranging in size from 13k sf to 20.1k sf. At completion, six light industrial buildings will line the front of the project along Euclid Ave while two larger buildings (206.1k sf and 49.6k sf) are positioned in the rear of the site. With a clear height of 36 feet, Building 1 will be just one of a few offerings with this size and specification in the submarket. The smaller buildings are designed to 26-foot clear height.
Euclid Industrial Park is located at the northeast corner of Bickmore Ave and Euclid Ave (CA-83), a regional thoroughfare. The site offers efficient access to the Southern California transportation network, the 91, 71 (1.5 miles to), 60, I-15 and I-10 freeways. The property is located across from large-scale industrial warehouses occupied by tenants such as Amazon, FedEx, Walmart, NFI and other large distribution companies.
Alere acquired the 18.6-acre property in an unimproved condition in April 2020 from a long-term land holder with entitlements already in place. Alere broke ground on the project in Q2 2021. Building slabs have been poured and wall tilt-up is planned for October 2021. Completion is slated for August 2022.
Ken Andersen, Eric Fikse and Richard John of Daum Commercial broker represented Alere in the Euclid Industrial Park land transaction and will oversee the project’s leasing.
Chino Commerce Park
At completion, Chino Commerce Park will consist of four buildings totaling approximately 266.3k sf. The project is anchored by a 210.7k sf distribution warehouse with 36-foot clear height and includes three smaller buildings ranging from 15.1k sf to 25.2k sf all with 26’ clear heights.
Chino Commerce Park is located at the northwest corner of East End Ave and County Rd. Situated at a unique infill location adjacent to the north side of the 60 Fwy, the property provides over 1,400 feet of freeway visibility. The project is close to the 71 and 60 Fwy interchange and is proximate to the City of Industry and San Gabriel Valley submarket.
Alere acquired the 13-acre infill development site in 2019 in unimproved condition and developed the site per existing zoning that supported small and large industrial use structures. The project’s slabs have been recently poured. Project completion anticipated in May 2022. Offsite improvements include street infrastructure enhancements to County Road.
Tim Pimentel, Chris Tolles, Eric Larson and Robin Dodson of Cushman & Wakefield represented Alere in the Chino Commerce Park land transaction and will oversee the project’s leasing.
Alere is currently in development on five ground-up industrial projects totaling over 1 msf in Southern California, including Euclid Industrial Park and Chino Commerce Park. In Q2 2021, the firm announced the commencement of 656 S. Cucamonga Ave, a Class A, 211k sf speculative industrial warehouse in Ontario. Alere is also underway in the development of 15922 Slover Ave, a 150k sf speculative warehouse in Fontana.
Alere owns over 20 msf of industrial space within the Inland Empire West and East submarkets. The firm targets core and value-add investment opportunities throughout Southern California, in addition to large-scale ground-up development opportunities ranging from 25k sf to over 1 msf.
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