X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

HESPERIA, CA-Plans are under way for the construction of a $5.5-million industrial business park in Hesperia, according to a recent agreement between the city’s redevelopment agency and developer Hesperia 66 LLC.

The Hesperia Community Redevelopment Agency has approved an Owner’s Participation Agreement with Hesperia 66 LLC, in which the developer will acquire 66 acres of commercially zoned property and construct two buildings, encompassing 250,000 sf on the site. The concrete facilities, which will include truck docks, with 24′ to 27′ eave heights and state-of-the-art fire protection, are expected to bring 250 new jobs to Hesperia.

The buildings, which will be located on a site bordered by Escondido Avenue and Mariposa Road, must be completed within four years of the agreement. On completion of the project, the agency will give a city-owned, 25-acre parcel to Hesperia 66, in exchange for a five-acre parcel owned by the developer. The five-acre parcel is commercially zoned and has tremendous upside value potential. The 25-acre parcel is not zoned for commercial development, has no entitlements and contains 17 acres that are actually suitable for building.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

 

GlobeSt. NET LEASE Fall 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.