IRVINE, CA-Sares-Regis Group is planning to develop the SRG Perris Logistics Center, a 580,000-square-foot distribution building near the former March Air Force Base in Perris, CA. The development, located at 3900 Indain Ave., is in a prime distribution corridor populated by major consumer brands and retailers that include Whirlpool, Hanesbrands Inc., Home Depot, Lowe's and Ross.
The area is within 70 miles of the ports of Los Angeles and Long Beach, making it an ideal location for industrial development. According to Larry Lukanish, SVP in SRG's commercial investment division, construction of the class-A distribution building will begin this summer. The 28.8-acre project is valued at $40 million, and completion is slated for the end of the year. Lukanish added that the building will be built to LEED specifications.
The new logistics center is being marketed by Colliers International's Thomas Taylor, Steve Bellitti and Summer Colter. The team also represented seller Ridge Realty and SRG in the land acquisition.
As GlobeSt.com reported in May, Sares-Regis Group of Northern California (SRGNC) has hired Jeff Warmoth as VP. Warmoth will be responsible for managing the development of mixed-use and residential projects.
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Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
