(Read more on the industrial market.)

FONTANA, CA-The Chicago-based Alter Group has kicked off construction of its 574,000-sf Calabash III, a high-cube distribution center and its fourth building in the area. The company expects to complete the building during the first quarter of 2008.

Michael J. Alter, president of the Chicago-based national corporate real estate development firm, notes that the new building is near the Calabash I and Calabash II warehouses, which total 1.1 million sf and were developed by the company in 2006. The development site is approximately three miles east of the Ontario International Airport along Interstate 10, just east of the Interstate 15 interchange.

According to Patrick E. Gallagher, senior vice president of the Alter Group, the company sees the Inland Empire as poised to continue significant growth with thousands of new logistics jobs created in the region during 2007. The firm, founded by William A. Alter in 1955, has developed close to 100 million sf of speculative projects for its own portfolio and build-to-suit facilities for corporate users.

The Alter Group’s leasing team for the new Fontana project consists of Dave Consani, Darla Longo and Jim Koenig, all of the Ontario office of CB Richard Ellis.

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