REDA Launches Two Industrial Builds

NEWPORT BEACH, CA—REDA Bascom Ventures, a joint venture between the Bascom Group and Real Estate Development Associates has broken ground on two speculative industrial developments in the Inland Empire and Los Angeles. The two projects total 500,000 square feet and are expected to come online in the first quarter of 2015.

“We believe there are tremendous opportunities here and each submarket has distinct characteristics, which make them attractive,” Jason Krotts, a principal at REDA, tells GlobeSt.com. “Our focus as an organization is to create value through transformation by focusing on either development or repositioning opportunities in Southern California. Southern California as a whole (Greater L.A., O.C., S.D. and the I.E.) is around 1.7 billion square feet of industrial product—twice as large as Chicago, the next closest industrial market in terms of size.”