POMONA, CA—Overton Moore Properties has purchased 18 acres of industrial-zoned land in Pomona from ATC Realty. The developer plans to construct a 240,000-square-foot build-to-suit development on behalf of Graybar Electric Co., and expects to deliver the custom class-A facility in January 2015.
HPA has been chosen as the architect for the project and Fullmer Construction Co. will handle the building efforts. In the sale transaction, Colliers International‘s Steve Belletti, senior EVP, and Tom Taylor, senior EVP, represented both ATC Realty and OMP. Additionally, Colliers International represented OMP in the build-to-suit transaction. Graybar was represented by Rick Sheckter, executive managing director at Newmark Grubb Knight Frank.
Graybar Electrical is a leading distributor of electrical, communications, data networking and security products, currently located in the City of Industry. This new facility in Pomona will expand the company’s current space. OMP has already started construction efforts on the property. Once complete, Graybar will purchase the property from OMP. OMP did not respond to a request for comment.
Land in these popular industrial markets, like Pomona is becoming increasingly difficult to find with many developers are scooping up the last remaining parcels. Last week, GlobeSt.com reported that Goodman Birtcher launched a $146 million industrial development in the Inland Empire West city of Rancho Cucamonga, not far from Pomona. For that project, Goodman Birtcher acquired one of the last remaining 75-acre plots in the city, spent the past two years gaining entitlements and just broke ground on construction. The developer will deliver the 1.6-million-square-foot development in March of next year.