X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Read more on the industrial market.)

REDLANDS, CA-Newcastle Partners of San Francisco plans two new industrial projects here, both scheduled to open in 2008, that will total 759,000 sf and will comprise two buildings each. One will be called the Alabama Industrial Center I and II, the other the Almond Industrial Center.

Newcastle will develop 573,000 sf at Alabama Industrial Center on 27.6 acres of land at Alabama and Palmetto streets. Construction is scheduled to start late this year, with delivery of buildings anticipated in late summer 2008.

The company will develop the 186,000-sf Almond Industrial Center on 9.4 acres on Almond Avenue between California and Nevada streets. The buildings will be divisible down to 19,000 sf, with dock high facilities. Construction is scheduled to begin in the first quarter of 2008, with delivery of buildings anticipated for fourth quarter of 2008.

The two new developments are part of an overall Newcastle strategy designed to acquire well-located parcels in prime locations along major interstate transportation arteries in which to build class A warehouse/distribution buildings in Southern California, according to Dennis Higgs, president and CEO of Newcastle. In addition to the two new Redlands projects, Newcastle already has a major presence in the Inland Empire with its 612,000-sf Midway Distribution Center in Fontana.

The 612,000-sf center is at 11101 Etiwanda Ave. and is 100% leased to Wayne, NJ-based Building Materials Corp. of America, one of the largest building products companies in North America. Higgs notes that the Midway Distribution Center was leased before the completion of construction and that it occupies a location at the midpoint between the 10, 60 and 15 freeways.

Newcastle Partners teamed with Santa Fe Springs-based Hulco LLC to develop the Midway project, which is set on approximately 27 acres. The Building Materials Corp. of America lease is a 10-year deal in which Newcastle was represented by Jeff Smith of Lee & Associates.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.