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INLAND EMPIRE NEWS
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Valhalla Real Estate Begins Site Work for New 678k sf San Bernardino Industrial Project

4/22/14

Valhalla Real Estate has begun site work for a new 678k sf, ground-up industrial project in San Bernardino. The company has engaged IDS Real Estate Group (IDS) as the development manager for the project, located off the corner of Palm Ave and Industrial Pkwy, immediately adjacent to the I-215 Fwy. CBRE has been retained as the leasing advisor for the new development.

The exportation of dirt from the site has commenced, with plans for a level site by the end of 2014. The project, which is known as Palm Distribution Center, will be one of the largest available buildings within 60 miles of the Ports of Long Beach and Los Angeles.

Palm Distribution Center is valued at approximately $45 mil and is expected to be ready for occupancy as soon as the Third Quarter of 2015. It is being marketed to tenants interested in an institutional quality warehouse/ distribution/ logistics warehouse facility.

"Palm Distribution Center will be a state-of-the art facility highlighting the very features companies are seeking in the distribution of goods throughout the western U.S.,” said Valhalla Real Estate CEO, Gale Anne Hurd. IDS Real Estate Group’s Senior Vice Presidents Patrick Spillane and Rob Fuelling are teaming with CBRE’s Senior Vice President Jay Dick and First Vice President Erik Wanland as the exclusive listing agents of the project.

“Large distribution buildings in the Inland Empire continue to be in strong demand. The vacancy rate for buildings over 500k sf in the Western Inland Empire at the end of the first quarter of 2014 was just 1.8%,” says Dick. “This project is one of the largest available sites in proximity to the ports of Long Beach and Los Angeles, making it attractive to tenants looking for a strategic South-West location.”

The building will be cross-docked, LEED-certified and fully-entitled, located on approximately 38.5 acres of land. It will feature freeway frontage, built-to-suit office space, 36’ warehouse clearance, 129 dock high doors, three grade-level doors, a minimum of 96 trailer stalls, 3% skylights, around 550 parking spaces, ESFR K14 Sprinkler System and 185’ secured truck courts.

The building will also be situated with immediate access to the I-215 and 15 Freeways, offering convenient access to the Ports of Long Beach/Los Angeles, as well as direct transportation routes to San Diego, Riverside, Phoenix and Las Vegas.






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