(Read more on the industrial market.)

IRVINE, CA-The Irvine office of Atlanta-based Oakmont Industrial Group has started work on its second Southern California project in recent weeks, a 370,914-sf development called Greystone Industrial Park at the corner of Greystone and Stanford drives in Ontario. The new construction follows closely after another Oakmont project that the company’s Irvine office began recently in Los Angeles County.

Oakmont’s latest project, in the Inland Empire West submarket, is under way on a 19-acre site that fronts the 60 Freeway one mile west of the Interstate15 Interchange. Completion is scheduled for mid-December of this year.

Greystone Industrial Park will include three multi-tenant buildings of 56,682 sf, 106,514 sf and 207,718 sf. The development will be in a business neighborhood where corporate neighbors will include Bridgestone, Toys “R” Us, Sport Chalet, TYCO and Disney.

According to Frank Geraci of CB Richard Ellis, one of the listing agents for the project, Oakmont acquired the development site after the seller was unable to complete a transaction with another buyer. He notes that Oakmont “solved problem after problem on the site” for more than two years, managing expectations of an out-of-state seller, working with the US Fish and Wildlife Service on an endangered species issue and obtaining entitlements from local agencies.

Besides Geraci, others on the CBRE listing team include Walt Chenoweth and Dan De La Paz. Oakmont’s Southern California-based design and construction team for the development includes RGA Architects and KPRS Construction Services, with construction financing from Bank of America.

Tim Howard, executive vice president in Oakmont’s Irvine office, calls the Greystone development a complement to the company’s other developments throughout the L.A. Basin, which include the other recently started project in Los Angeles County.

The L.A. County development, in Gardena, is a 139,674-sf infill project called Atlas Logistics Centre. The new class A warehouse and distribution facility is going up on a 7.68-acre site at the southwest corner of Avalon Boulevard and Rosecrans Avenue, at 14439 Avalon Blvd.

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