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NEWPORT BEACH, CA-A developer here has started construction of a $37-million, 1.1-million-sf industrial project on a 57-acre parcel in Ontario.

The new project is called Airport Mission Business Park. It is being developed by Western Realco, in conjunction with privately held Time Square Real Estate Investors.

The three-building complex will rise at the southeast corner of Mission Boulevard and Mildred Street, next to Ontario International Airport. In addition to a 102,000-sf facility and a 168,000-sf facility, the complex will feature an 857,000-sf distribution center that is being touted as the largest speculative building of its kind in the Western US.

“In recent years, corporate America has accelerated its long-term logistics strategy of seeking to occupy increasingly larger distribution facilities to achieve both cost efficiencies and the ability to serve wider regions from a single building rather than several smaller ones,” says Gary Edwards, vice president of Western Realco. “Our new Ontario project responds to that trend.”

The main, 857,000-sf facility will include 30-ft interior clearance, large truck courts, 140 on-line trailer parking spots and 120 dock-high loading locations. The other two buildings will feature 24 dock-high locations, 42 trailer parking spots and 14 docks.

Completion of the project is slated for the first quarter of next year. While the larger building will be available for lease only, the two smaller facilities will be available for lease or sale. Peter McWilliams and Ruben Goodsell of Colliers Seeley’s Ontario office are the project’s exclusive marketing agents.

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