RIALTO, CA—CapRock Partners, a privatefirm based in Orange County, California, recently broke ground ontwo large-scale industrial development projectshere. Together, the projects encompass more than 45 acres and areanticipated to create hundreds of new jobs in the area, as well asto generate multimillion-dollar tax benefits and fees for the Cityof Rialto.

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“We are pleased that CapRock Partners chose Rialto for theseextensive industrial development projects that will generatesignificant economic benefits to our city,” said Rialto mayorDeborah Robertson, who participated in aceremonial groundbreaking, last week. “Thanks to our aggressiveeconomic development efforts, and our continued dynamic growth,Rialto is seen as the new frontier for business in the InlandEmpire - placing it on the short list for developers seeking abusiness-friendly climate in Southern California.”

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Located just one mile apart within the City of Rialto, CapRockPartners' building projects boast ideal freeway access to the 210,15 and 10 Freeways. Having fully entitled both projects, CapRockPartners will now begin development of more than one million squarefeet of state-of-the-art industrial on the two sites. Whencompleted in 2015, the projects are anticipated tocreate a $60 million tax basis increase for the combined 45 acresof land, and annual tax revenue to the City of Rialto of $200,000.In addition, between 150-250 construction jobs and $6.5 million incity development impact fees are being generated by the projects,with an anticipated 250+ permanent, full-time jobs created bytenants when the building is completed. Further, the projects willimprove local city infrastructure, including new, above-standardcurbs, gutters, and sidewalks - as well as extending various water,sewer and dry utility lines.

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“Members of our team have been investing in the Rialto area formore than three decades and are some of its biggest champions,”said Jerry Pharris, CEO of CapRock Partners, atthe groundbreaking ceremony. “Fortune 1000 firms are seekingdistribution centers in this key location, and these projects - thelargest to break ground in years - will be ready to bring thatbusiness to the City of Rialto.”

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The first project, known as CapRock Distribution CenterI, is located at the northeast corner of North Locust andWest Bohnert Avenues in Rialto. The project encompasses26.30 net acres of unimproved land and an existingmulti-tenant industrial building, which will be demolished to makeway for a new, 609,888-square-foot, class Adistribution center.

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The second project, known as I-210 IndustrialCenter, is located at the northwest corner of North LindenAvenue and West Casmalia Street in Rialto. Just 500 feet north ofthe 210 Freeway and serviced by the Locust Street on and off ramps,this 18.74 net acre parcel of unimproved land isnear the intersection of Interstates 10 and 15, placing itstrategically in the center of key transportation corridors. A428,208-square-foot, state-of-the-art distributioncenter is planned for the site.

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“We are pleased to be part of the City of Rialto's continuedemergence as a premier location for commerce in SouthernCalifornia,” said Pharris. “This groundbreaking event marks theevolution of CapRock Partners into one of the region's premierowners and developers of institutional quality industrial realestate.”

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Headquartered in Irvine, CapRock Partners is a fast-growingprivate commercial real estate investment firm focused on investingin value and industrial assets throughout the state.

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David Phillips

David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.