Rockefeller Group Begins Construction on Nearly 2 Million SF of Speculative Industrial Developments in the Inland Empire
IRVINE, CA – September 6, 2017 – Rockefeller Group has begun construction on two industrial projects in the Inland Empire. Tri-City Industrial Complex, a 19-acre site located at 1333 South Tippecanoe Ave. in San Bernardino, Calif. will include two speculative industrial distribution buildings totaling 425,535 square feet. Optimus Logistics Center, a 68-acre site located along the I-215 corridor in Perris, Calif. will also include two speculative buildings totaling approximately 1.4 million square feet. The projects are expected to be completed in the third and fourth quarters of 2018.
“We are excited to be putting ‘shovels in the ground’ on our two projects in the Inland Empire,” said James V. Camp, Senior Vice President and Regional Development Officer for Rockefeller Group’s West Region. “Absorption is keeping up due to high tenant demand, making these projects very desirable.”
There is more than 23 million square feet of industrial space under construction in the region. The two Rockefeller Group projects are the company’s first industrial developments in the Inland Empire and are already seeing significant interest from brokers and tenants.
“Tenants in the market view both San Bernardino and Perris as prime distribution locations for their businesses, specifically companies in the e-commerce segment,” said Marc Berg, Vice President, Regional Director, West Region. “E-commerce is changing the way we shop with consumer demand for online goods at an all-time high. Almost everything in the west is arriving in trucks to facilities like ours from the Ports of Los Angeles/Long Beach.”
Rockefeller Group is relying on the variation in sizes of the two projects to drive occupancy. Rockefeller Group’s Tri-City Industrial Complex includes a 344,249 square foot cross-dock distribution facility that could be divisible to accommodate smaller tenants and an 81,286-square-foot front-loading building. Optimus Logistic Center includes a 1,039,898 square foot building as well as a 406,650 square foot building.
“When people think of the Inland Empire distribution market, their first thought may be the larger, million plus square foot buildings like we’re developing in Perris,” said Camp. “However, there is just as much demand for the smaller buildings at our project in San Bernardino. These two projects complement each other and that is why we have received so many calls from a variety of users with varying size requirements.”
Camp expects tenants and brokers to visit the sites once the walls are tilted up in Spring 2018, an important milestone for each project. Camp also expects the company to develop more projects similar to these and is actively looking for additional sites within the Inland Empire.
Mike McCrary and Peter McWilliams of JLL are the exclusive leasing agents for Optimus. The building is being built by Fullmer Construction. Kimley Horn and Associates is the building engineer.
Chuck Belden, Kyle Kehner, Milo Lipson, Tim Pimentel and Ryan Velasquez of Cushman & Wakefield are the exclusive leasing agents for Tri-City. The building is being built by Millie & Severson. Thienes Engineering is the building engineer.
Both projects are being designed by HPA Architects with Ridge Landscape Architects designing the landscapes.Read Full Article