Big-Box Development Opportunities Challenging in Inland Empire
By: Lisa Brown
Because the Inland Empire is one of the strongest industrial markets in the nation, finding viable development options is sometimes a challenge. But one firm is answering the call for big-box class-A facilities here.
Black Creek Group, a Denver-based real estate investment management firm, will be kicking off two development projects, Etiwanda Commerce Center and Riverside Logistics Center. The developments will add approximately 1.7 million square feet to the firm’s existing 7.3 million square feet of industrial holdings within the market.
Located in Inland Empire West, Etiwanda Commerce Center will be situated on the 64 acres of a former decommissioned power plant. Working closely with Roux & Associates for environmental oversight and Rancho Cucamonga, the firm plans to demolish existing structures and develop a 1 million-square-foot industrial facility which will include additional parking. Demolition is scheduled to begin in second quarter 2021 and construction is estimated to begin in first quarter 2023.
Mike Condon Jr., Erica Finck, Chuck Belden, Phil Lombardo, Kyle Kehner and Andrew Starnes with Cushman & Wakefield were instrumental in completing the acquisition of the site. Cushman & Wakefield will also be retained for leasing.
In addition to this development, the firm will begin construction on Riverside Logistics Center, a 683,000-square-foot facility in Inland Empire East in second quarter 2021.