Developer Acquires Land for Industrial Park

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ONTARIO, CA-Developer Erin Madison Ltd. of Newport Beach has acquired 10.5 acres for $2.9 million and has begun construction of 12 freestanding industrial buildings totaling 213,064 sf, according to Grubb & Ellis. The development site is on State Street between Mountain and Central avenues, south of Mission Avenue.The project, known as West Ontario Industrial Park, is being marketed by Grubb & Ellis. The buildings will range in size from 10,000 sf to 32,000 sf and will be available for sale or lease. Completion is slated for April 2006. Randy Lockhart and Steve Freshour of Grubb & Ellis’ Ontario office represented the buyer and the seller, two individual investors based in Redlands, in the land transaction. Lockhart and Freshour are also marketing West Ontario Industrial Park for the developer.Lockhart tells GlobeSt.com that the development site is in an industrial area where quite a few other small, older industrial buildings have been built over the years, but this project will create an all-new industrial park.Although the buildings are being offered for lease or sale, he anticipates that most of them will be bought by owner-users. All are being designed as single-tenant buildings. The West Ontario Industrial Park will be the latest in a series of developments in the region by the Madison development firm, according to Lockhart, who notes that Madison also has an office park under way in Ontario.The general contractor for the West Ontario Industrial Park project is Tilt-Up Construction, a firm owned by Madison. The project is being designed by Los Angeles-based architect Bruce Karish.