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PERRIS, CA-Newcastle Partners of plans a new industrial park called Oleander Business Park on a site of nearly 19 acres that the San Francisco-based development and investment firm bought recently. The company expects to begin construction in the fall on the 330,00-sf project.

Dennis Higgs, president of Newcastle Partners, and partner Jackson Smith describe the development as a project of seven or eight individual buildings that will be designed for industrial and warehouse uses. The project site is adjacent to the I-215 freeway with high visibility and immediate freeway access at Oleander Avenue.

The developer expects that groundbreaking could occur this summer, with the buildings to be ready for occupancy in the second quarter of 2007. Newcastle has retained Lee & Associates to market the project.

The project is the third in recent years in the Inland Empire4 for Newcastle, which recently completed a 420,000-sf industrial park comprising three buildings in Fontana that sold out before the completion of construction. The company also a 612,000-sf distribution building under construction in Fontana, called the Midway Distribution Center.

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