Bay Area Developer Plans 124,000-SF Industrial Project

COLTON, CA-Newcastle Partners of San Francisco plans to develop a 124,000-sf project called the Colton Business Center, on a 7.7-acre parcel that the San Francisco area company bought recently from for $1.5 million. The development site is at Fairway Drive and Auto Plaza Drive, close to the I-10 and 215 freeways.Newcastle, which has developed other Inland Empire industrial buildings, plans to begin construction in the spring and expects to have the new center ready for occupancy by the fall. Dennis Higgs, CEO of Newcastle, describes the project as six class A buildings designed specifically for manufacturing, research and development and distribution users. The buildings will be marketed for sale, with Jeff Smith of the Ontario office of Lee & Associates as the listing agent.The project is being designed by RGA Architects, with Hollis Builders Inc. as development manager and Fullmer Construction as contractor. Newcastle's partner in the project is HG Capital.Newcastle recently completed a successful 420,000-sf , three-building industrial park development in Fontana, California that completely sold out prior to construction completion according to Higgs.Newcastle's most recent Inland Empire project was a 412,000-sf industrial development in Fontana where three separate buyers paid a total of $28 million to acquire three buildings that comprised the entire site. The project was called the Newcastle Fontana Business Center, and the deals were reported last year on GlobeSt.com.The Fontana project buildings are at 13500, 13508 and 13512 Marlay Ave.