SAN BERNARDINO, CA—Valhalla Real Estate says it has engaged IDS Real Estate Group (IDS) as the development manager and CBRE as the leasing advisors for the 678,000 square foot ground-up industrial development here.

Ground work has begun at the location, off the corner of Palm Avenue and Industrial Parkway immediately adjacent to the Interstate 215 Freeway. Plans call for a level site by the end of 2014. The project, which will be known as Palm Distribution Center, will be one of the largest available buildings within 60 miles of the Ports of Long Beach and Los Angeles.

Palm Distribution Center is valued at approximately $45 million and can be ready for occupancy as soon as the Third Quarter of 2015. The owner, Valhalla Real Estate, has selected CBRE and IDS to market the property to tenants interested in an institutional quality warehouse/ distribution/ logistics warehouse facility.

“Palm Distribution Center will be a state-of-the art facility highlighting the very features companies are seeking in the distribution of goods throughout the western U.S.,” said Valhalla Real Estate CEO, Gale Anne Hurd.  IDS Real Estate Group's senior vice presidents Patrick Spillane and Rob Fuelling are teaming with CBRE's SVP Jay Dick and first vice president Erik Wanland as the exclusive listing agents of the project.

“Large distribution buildings in the Inland Empire continue to be in strong demand. The vacancy rate for buildings over 500,000 square feet in the Western Inland Empire at the end of the first quarter of 2014 was just 1.8%,” says Dick. “This project is one of the largest available sites in proximity to the ports of Long Beach and Los Angeles, making it attractive to tenants looking for a strategic South-West location.”

The building will be cross-docked, LEED-certified and fully-entitled, located on approximately 38.5 acres of land. It will feature freeway frontage, built-to-suit office space, 36' warehouse clearance, 129 dock high doors, 3 grade level doors, a minimum of 96 trailer stalls, 3% skylights, around 550 parking spaces, ESFR K14 Sprinkler System and 185' secured truck courts.

The building will also be situated with immediate access to the I-215 and 15 Freeways, offering convenient access to the Ports of Long Beach/Los Angeles, as well as direct transportation routes to San Diego, Riverside, Phoenix and Las Vegas.

“CBRE brings a tremendous amount of marketing expertise for a project of this size in the Inland Empire and IDS is proud to partner with them,” says Spillane, of IDS Real Estate Group who will be the lead development manager for this development. “We expect to be in discussions with nationally recognized tenants interested in locating to a premiere Inland Empire location.”