(Read more on the industrial market.)

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LAGUNA HILLS, CA-Omni West Group has opened the doors to thecompany's eight-building, 50,000-sf Rivera Industrial Park inRiverside, a project at 485 Rivera St. that is aimed at smallerusers but features amenities that are typically associated withbig-box units, according to the Laguna Hills-based developer. Theproject, which Omni West debuted Thursday, features industrialbuildings for sale ranging from 5,220 sf to 6,746 sf.

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Kip Dubbs, president of Omni West, calls the Rivera IndustrialPark features "rare amenities on buildings of this size," addingthat the Laguna Hills firm is offering financing on the buildings.The buildings include mezzanine office, 600-amp power, 20-footwarehouse clearances, yard space in some units and dual roll-updoors.

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In light of the changes that have occurred in the capitalmarkets since Omni West broke ground on the project early thisyear, the company has gone to extra lengths to facilitate financingfor buyers. Joan Darhart, vice president of Business CommunityCapital, points out that many business people use the equity intheir homes or other properties to provide the down payment ontheir commercial building purchases, but the current mortgagelending situation has severely impacted their ability to accessthose funds.

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To alleviate this problem, Business Community Capital will allowthe equity in other property to be pledged as additional collateralto support 100% financing. The loans will be underwritten usingstandard SBA lending criteria, eliminating the need for FICO scoresor debt to income ratios.

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The Rivera Industrial Park is situated on a 2.5-acre site atRivera near North Main Street. Omni West plans to capitalize on thedemand for small-box industrial buildings, which are in shortsupply throughout the Inland Empire, according to Dubbs.

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