Timur Tecimer, president and COO of Overton Moore, tells GlobeSt.com that the company expects to deliver the buildings in the fourth quarter, offering them for lease or sale in what he calls a "very tight" Mid-Counties submarket. The project, about a mile from the 5 and 91 freeways, is being financed with a $19.7-million, 24-month construction loan from Corus Bank of Chicago.

"I can't remember the last time a project like this was built in Buena Park with buildings for sale," says Tecimer. He says the buildings, ranging from 34,000 sf to 158,000 sf, will be concrete tilt-up, with clear heights of 24 to 30 feet, some with mezzanine office space. The company is building the project on a speculative basis and has "very strong user interest," he adds.

The first phase of CommerceCentre @ Buena Park has been filled since late last year. Phase I comprises 1.4 million sf and includes among its tenants Service Craft LLC, one of the nation's largest third-party logistics providers; and Legacy Farms, which leases an 86,000-sf cold storage building.

CommerceCentre @ Buena Park occupies a 55-acre site that formerly was a distribution center for Lucky Stores supermarkets. It will comprise nine buildings when completed, including the six new buildings in Phase II and three existing buildings in the first phase.

Overton Moore Properties has developed more than 28 million sf of industrial, commercial, retail and mixed-use projects since 1972. Its partnerships also own another three million sf of office and industrial properties plus it manages more than 10 million sf in Southern California.