RANCHO CUCAMONGA, CA-Sares-Regis Group plans to develop a four-building, 200,000-sf industrial project on 9.2 acres on Rochester Avenue near I-15 Freeway that the company recently acquired for $2 million from Schlosser Forge, a maker of forged rings for the automotive and aircraft engine industry. Sares-Regis plans to begin development in July, with completion planned for the fourth quarter of 2004, says Larry Lukanish, Irvine-based VP of commercial investment for the company. Upon completion, the project will be valued at $14 million. Its four dock-high buildings will range from 38,000 sf to 57,000 sf.Joe McKay and Randy Kuttler of Lee & Associates in Ontario represented Sares-Regis Group and Schlosser Forge in the land transaction and will be marketing the buildings both for sale and for lease. Sares-Regis is one of a number of companies with projects under way in the Inland Empire industrial market, which remains one of the strongest in the country, according to brokerage company reports. Demand for buildings of all sizes remains steady, ranging from small and medium for-lease and owner-user buildings to big box warehouses, according to first-quarter reports. Sares-Regis Group has been active in the Inland Empire in recent years, having sold a 983,986-sf warehouse at Redlands Business Center to USAA Real Estate Co. last year after developing it as a build-to-suit. The company is a diversified developer and manager of residential and commercial real estate in the western US. It has acquired or developed approximately 36 million sf of commercial properties and 18,000 housing units and has more than 3.5 million sf under commercial development. The company manages more than 12,000 apartment units and 14 million sf of commercial real estate.

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?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

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

Get More Information


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 © 2024 ALM Global, LLC. All Rights Reserved.