(To read more on the industrial market, click here.)

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RIALTO, CA-Panattoni Construction has broken ground on anindustrial complex totaling more than 1.7 million sf for ownerLaSalle Management. The complex, due to be completed in the fall ofthis year, is being developed for sale or lease on a site atRiverside Avenue and Agua Mansa Road.

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Gus Andros and Richard John in the Ontario office of CollinsCommercial Corp., who are the listing brokers on behalf of LaSalle,describe the project as three buildings measuring 328,691 sf,599,654 sf and 796,841 sf. They note that the development site isclose to the Interstate 10, 215 and 60 freeways.

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Andros and John note that the new Panattoni development will beclose to existing corporate neighbors that include Unilever, HomeDepot and FedEx. The new project adds to a growing inventory ofindustrial, warehouse and distribution buildings in Rialto, wherethe last of the buildings at the four-building 1.7-million-sfRialto Commerce Center sold early this year for $33.5 million,according to a GlobeSt.com report.

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The new Panattoni project is also close to the 300-acre AguaMansa Industrial Center. That center is a development north of the60 Freeway and west of the 215 Freeway that straddles bothRiverside and San Bernardino counties.

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Rialto is one of the areas where developers have been goinglately to meet the continuing demand for industrial space in theInland Empire, where the market absorbed more than four million sfof space in the latest quarter, according to market surveys. Thatfigure rose more than 25% from the previous quarter, according tomost market surveys, despite an increase in construction.

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