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1/13/17
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Adler Realty Investments Inc and Fairway Commercial Partners Inc have broken ground on three industrial buildings totaling 75k sf in Lake Elsinore. The buildings are phase one of a multi-phase project totaling 250k sf.
The project, called Fairway Business Park, is situated off of I-15 near the Central Ave interchange. The buildings are being built for sale or lease.
The property is located on the corner of Third St and Pasadena St in a densely industrial neighborhood. The buildings are planned to be finished in August 2017, with construction of phase two expected to start by the end of the year.
“The industrial market in Riverside County is tight and there is a shortage of highly functional buildings with abundant loading and generous outdoor yard areas,” said Rod Oshita, president of Fairway. “We are excited about commencing construction and expect strong demand for this type of buildings.” added Michael Adler, president of Adler.
The project sits on nearly 18 acres and will consist of 12 buildings varying in size from 8k sf up to 50k sf. Charles Black, Larry Null and Gordon Mize of Lee & Associates are handling the marketing of the project.
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