Sares-Regis Unveils Spec Industrial Project

[IMGCAP(2)]According to John Hagestad, a Sares-Regis managing director, the project will incorporate architectural features in addition to a cost-saving location in a market with the lowest industrial vacancy rate and the largest industrial base in Orange County. Completion is planned by mid-2010.

Hagestad points out that city's redevelopment agency "has put all the pieces in place to encourage and support new development" in the area where the new project is planned. Additionally, the site is in the heart of the high-demand North Orange County industrial submarket, which has a vacancy rate of 4.97%, he notes.

The project will consist of one 60,000-square-foot building and two 30,000-square-foot buildings with about 2,000 square feet of mezzanine and improved office space. The larger building will have a private truck court with six dock-high bays and one grade-level door. The smaller buildings will have three dock-high bays and will share a secured truck court. All truck courts will be paved with concrete instead of asphalt, reducing the heat-island effect.The buildings will have 30-foot clear height, heat- and light-reflecting "cool roofs" and interior T-5 interior fluorescent lighting on sensors, dramatically reducing electricity demand, along with a host of other green features.

Hagestad says the project will provide a solution for a growing number of companies, particularly publicly owned firms that have a corporate mandate to buy or lease green buildings. Brad Bierbaum of CB Richard Ellis, who is marketing the project for SRG, says the building sizes are ideal for the market because buildings in the range of 30,000 to 50,000 square feet are the first to be absorbed.

Additionally, the project is in business-friendly Anaheim, which offers green building incentives and has its own electric utility. Power costs are about 20% less than from Southern California Edison, according to Bierbaum.

Bierbaum adds that the key architectural features in the project will give it a leg up on competing buildings. Its 30-foot clear height will attract many users with modern racking systems and forklifts, he says. He estimates that 85% of the approximately 113 million square feet of industrial buildings in the North County market have less than 24 feet of clear height, which was the state of the art in the late 1980s. In contrast to the more common truck wells for loading and unloading goods and materials, the buildings' many dock-high loading positions are important features that make transferring goods in and out of trucks less cumbersome. "These are true, dock-high loading positions plus grade-level ramps. You can't find that today," Bierbaum says.