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POMONA, CA-Seventh Street Development of Long Beach has unveiled plans for 12 new industrial buildings totaling more than 292,000 sf as part of its Mission-71 Business Park near the high profile intersection of the 71, 57 and 10 freeways. The Long Beach-based developer is marketing the buildings for sale or lease through CB Richard Ellis.

Seventh Street, which acquired the development site in the spring, has named CBRE industrial brokers Lynn Knox, Lyn Eisenhower, Barbara Emmons and John Privett as the listing agents for the new industrial buildings. The 12 buildings will range from 16,000 sf to 60,000 sf and will be available in the third quarter of 2007.

Knox expects “strong interest from the San Gabriel Valley, Los Angeles and North Orange County markets” in the new project, which will include two-story office space and will offer freeway visibility. The business park, which will be constructed in phases, also offers build-to-suit opportunities up to 100,000 sf.

Pomona is an industrial market of approximately 17.3 million sf that is part of a San Gabriel Valley industrial market of nearly 140 million sf, according to CBRE statistics. The vacancy rate in the submarket stood at 1.4% in the latest CBRE survey.

Fullmer Cos. is the general contractor for the Mission-71 project, with Ware Malcolm as the architect and JP Morgan Chase providing the construction financing. The Mission-71 Business Park is the first project in the City of Pomona for privately held Seventh Street Development, which was founded in 2003 by Craig Furniss and Doug Hinchliffe.

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