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11/03/14
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In Valencia, IAC has broken ground on IAC Commerce Center, a 1.3 msf industrial development on Witherspoon Pkwy adjacent to the Valencia Commerce Center. The project will be built in three phases on approximately 70 acres of land.
Land development is anticipated to take approximately 12 months. The project will offer a wide range of building sizes with the ability to accommodate a variety of tenants through build-to-suit flexibility.
Completion of the first phase, totaling 400k sf, is expected to occur during the third quarter of 2016. CBRE has been retained to market and lease the property.
“With vacancy falling to record lows in the Valencia area and strong demand from companies looking for space, the timing for IAC Commerce Center is excellent,” says Craig Peters of CBRE.
IAC currently owns and manages 9 msf of industrial property, of which 2 msf is in various stages of development. IAC provides facilities for air cargo, logistics and freight forwarding brands in major industrial markets throughout the United States.
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