RCR Building Plans Business Park

MORENO VALLEY, CA-The RCR Building and Development Co. plans a 10-building development called Veteran's Way Business Park that will be the latest example of Inland Empire industrial development expanding from its base in Ontario to other parts of the region. RCR's project, slated for a site on the northeast corner of Goldencrest Drive and Veteran's Way, is among the first developments in which is expected to be brisk growth of industrial building in Moreno Valley, according to Gerry Harvey of the Ontario office of CB Richard Ellis. Harvey and Art Day of CBRE's Ontario office are the listing agents for the Veteran's Way project, a 10-building business park that will include light industrial buildings for sale or lease ranging from 9,000 sf to 19,500 sf. RCR expects to complete construction in January. Its development will be one of only a few smaller building industrial projects planned in the area, with the majority of planned development being between 100,000 sf and one million sf, Harvey notes. He says that although Moreno Valley is not known as an active industrial market, at least 4.1 million sf of industrial space is expected to be completed in the city in the next 15 months. The new construction will more than double the total of industrial space in Moreno Valley. The Veteran's Way project is adjacent to planned medical, office and hotel properties. It will offer what Harvey calls "an economic alternative to the more expensive areas of Temecula and Murrieta." Other planned industrial projects in Moreno Valley include a 250,000-sf DHL facility, a two-million-sf development by Ridge, two Alere Property Group projects totaling more than 1.5 million sf and several other projects in the early planning stages, each in excess of one million sf.