X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CITY OF INDUSTRY, CA-Snyder Langston Operon Group of Newport Beach, Calif.,broke ground on its 400,000-sf Imperial Business Park, a $30 million,speculative industrial project along the Pomona (60) Freeway at the FairwayDrive exit that is due to be completed in the first quarter of next year.

Barbara Emmons of CB Richard Ellis, which is marketing the project incooperation with Colliers Seeley International, tells GlobeSt.com that thedevelopment consists of seven buildings, six of them being developed andoffered for sale by Snyder Langston and the seventh to be constructed by adeveloper to whom Snyder Langston is selling a 384,153-sf parcel of land.Five of the six buildings Snyder Langston is building are already in escrow,Emmons tells GlobeSt.com. She says the developer who is in escrow with SnyderLangston to acquire the 384,153-sf parcel plans to build a multi-tenantbuilding for lease.

Emmons says the buildings Snyder Langston is constructing will range from22,000 to 160,000 sf and will be single story warehouse construction of 24 to26-foot clear heights, with mezzanine office, state-of-the-art sprinklers andboth ground level and dock high doors.

The project’s early success reflects the strong demand in the City of Industryindustrial submarket, Emmons tells GlobeSt.com. It’s one of the region’s mostcentralized and most established markets, with a base of about 64 million sf,a direct vacancy is just 2.2%, overall vacancy of about 6.6%, and relativelylittle land available for new developments.

The architect for the project is Ware Malcomb of Newport Beach, with SnyderLangston acting as its own general contractor. Snyder Langston Operon Groupis a partnership between the Operon Group and Snyder Langston. It hasdeveloped more than 10 million sf of space in Southern California.

Besides Emmons, the marketing team for Imperial Business Park includes DarlaLongo of CB, plus Tom Taylor and Steve Bellitti of Colliers Seeley.

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
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

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 © 2020 ALM Media Properties, LLC. All Rights Reserved.