$10M Industrial Park Takes Shape

ONTARIO, CA-Citing what it describes as a lack of free-standing industrial buildings available for sale to small businesses, developer Wolf & Associates of Los Angeles has begun work on Belmont Business Park, a $10-million, 7.2-acre development at the southwest corner of Grove and Belmont avenues.

Tal Siglar of the Ontario office of Daum Commercial Real Estate Services says the Los Angeles developer is targeting the small owner-users with the project, which he describes as “strategically located at an entrance to Ontario International Airport.” Belmont Business Park is rising about a half mile south of the airport and north of the 60 Freeway, with prominent Grove Avenue frontage. It is expected to be ready for occupancy by Nov. 1.

Siglar and Mark Zorn, also an industrial specialist at Daum’s Ontario office, are listing agents for the 79,301-sf project, which will consist of six free-standing buildings ranging from 10,655 sf to 15,615 sf.

Siglar says small businesses in the Ontario market have been limited primarily to multi-tenant industrial projects, especially those seeking buildings of 15,000 sf or smaller. The market for such buildings is further strengthened by a low vacancy factor for buildings in the 5,000-sf to 20,000-sf range, which currently has a vacancy rate of 5.6% in the Ontario market, according to Chad Jacobson, vice president of research and marketing for Daum.

The brokers anticipate that buyers of the buildings will include a range of businesses such as printers, custom manufacturers, wholesalers and distribution companies. With the Grove Avenue underpass of the 60 Freeway scheduled for completion by September 2003, access to the area will increase further, according to Siglar.

Designed by Carney Architects of Tustin and being built by Norse Corp. of Costa Mesa, the development features concrete tilt-up buildings with ground-level loading, 22-foot interior warehouse clearance and three parking spaces per 1,000 sf of building space. Other features include fee simple lots, fenced yards, painted warehouse walls, metal Halide warehouse lighting and 800 amps of power.