The new construction consists of the recently completed 49,000-sf build-to-suit distribution facility for the Los Angeles Times as well as three speculative buildings of 216,000 sf, 42,000 sf and 39,000 sf. The company also has under construction a 248,000-sf building that will house the Yoplait distribution facility for General Mills Corp.
Jim Flynn, Carson president, says the company plans one million sf of new construction this year, following a 2002 in which the developer leased nearly 2.2 million sf of industrial space in its two business parks in the South Bay and Inland Empire and completed construction of 1.3 million sf.
The new projects are targeted at what Carson sees as a strong appetite for class A industrial space, primarily for logistics use. Among the logistics and shipping firms that have already leased space from the company is P&O Nedlloyd, one of the world's largest container carriers, which signed leases in 2002 for 967,891 sf in two new buildings at Chino South Business Park in Chino.
The Carson Cos. is a private real estate investment trust. The company's portfolio exceeds six million sf of class A industrial space in major distribution hubs throughout Southern California. Most of the its development is in the 438-acre Dominguez Technology Center, of which the company is majority owner, and the 105-acre Chino South Business Park, where Carson is the sole developer and joint venture partner with Connecticut General Life Insurance Co.
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