LONG BEACH, CA-Seventh Street Development is tilting the walls this month on 24 industrial buildings in San Bernardino and Pomona totaling nearly 500,000 sf. The Long Beach-based company's two projects, designed to address the limited supply of product for users of small and medium-sized buildings, are Mission-71 Business Park in Pomona and Waterman Business Center in San Bernardino.

Principal Craig Furniss of Seventh Street notes that new industrial product in the San Gabriel Valley and the Inland Empire has typically been big box warehouses, designed to meet requirements of large logistics providers. However, today's low interest rate environment continues to spawn the demand by small entrepreneurial companies for smaller "for sale" industrial buildings.

With much of the supply of smaller industrial buildings limited to older, obsolete structures, what does get built gets absorbed quickly, Furniss points out. He says the company's two new projects will offer "big building features" not usually included in smaller developments.

Phase one of the larger of the two developments, Mission-71 Business Park, comprises 12 buildings on separate fee simple lots totaling 292,296 sf. Ranging from 16,000 sf to 42,000 sf, the buildings feature freeway visibility, 24-foot clear heights, office build-outs up to 6,000 sf, extra large drive aislesand truck loading areas as well as fenced yards.

The Waterman Business Center is a 191,000-sf project near the interchange of US Interstates 10 and 215.It will feature 10 new freestanding industrial buildings and two business condominiums in an area close to the Hospitality Lane district, which features a variety of restaurants and retailers. The industrial buildings, on fee simple lots, will accommodate requirements from 9,543 sf to 29,057 sf, while the office/industrial condos will range from 2,068 sf to 10,464 sf.

The Mission 71 center is being marketed for Seventh Street by CB Richard Ellis brokers Lynn Knox, Lyn Eisenhower, Barbara Emmons and John Privett. The agents for the Waterman Business Center are Herrick Johnson and Alexey Zabolotskikh of Lee & Associates and John Bosko of NAI Capital.