News
Real Estate/Development
Sep. 11, 2001
RANCHO CUCAMONGA
BY ANDREA ROSAS CREJ Staff Reporter As industrial space in the city of Ontario is getting harder to come by, developers have begun looking eastward to meet their industrial space needs, tapping cities such as Rancho Cucamonga, Fontana and Redlands for developable land. Following suit, Opus West Development Corp., a full-service real estate company for the western United States, has broken ground on it newest venture, the Rancho Technology Park.
BY ANDREA ROSAS
CREJ Staff Reporter
As industrial space in the city of Ontario is getting harder to come by, developers have begun looking eastward to meet their industrial space needs, tapping cities such as Rancho Cucamonga, Fontana and Redlands for developable land. Following suit, Opus West Development Corp., a full-service real estate company for the western United States, has broken ground on it newest venture, the Rancho Technology Park. Its two buildings, totaling 341,000 square feet, will be located at 8949 Buffalo and 8950 Rochester in Rancho Cucamonga.
"There is an abundance of available, developable land in Rancho Cucamonga," says Craig Halverson, director of real estate development at Opus' Irvine office. "There has been tremendous development in the Ontario area and the demand there is very strong. As the land gets developed, developers' choices are getting smaller so they are looking at choices farther east, as far as Redlands and Moreno Valley."
Purchased in January 2001, the property stands just north of the Ontario Mills Mall, near Interstates 10 and 15, where a variety of high-profile neighbors, including Mission Foods, Home Depot, Frito Lay and Kmart, have already established distribution facilities.
"We're actively marketing the space and have received interest on both properties," says Bill Heim, senior director of Lee & Associates, which will handle the marketing and leasing for the park. "We're looking to attract consumer-oriented companies. Users all have a preference to be in the greater Ontario marketplace because of its proximity to the I-10 and I-15."
Within the last several months, Opus has made a name for itself in the Inland Empire, developing more than 1 million square feet of space in the two-county region. The Phoenix-based company recently completed construction on a 330,000-square-foot, build-to-suit industrial space leased to Petco in Mira Loma and the Philadelphia Distribution Center, a 418,000-square-foot facility, also in Mira Loma.
Designed by architect Hill Pinkert, Rancho Technology Park will house two buildings, 140,200 square feet and 201,500 square feet, and will feature top-of-the-line amenities including, concrete tilt-up construction, an ESFR sprinkler system and a 30-foot minimum clear height, concrete entrances and plush landscaping.
"At 340,000 square feet, this is our largest industrial development in the Inland Empire," Halverson says. "This will be a state-of-the-art facility. We've got all the latest high-end criteria - all the whistles and bells -- including high ceiling clearances, 100 percent concrete truck ports and a great location in a corporate environment."
Construction for the new distribution center is scheduled for completion in January 2002.
"Rancho Cucamonga is a great city to work with because the development standards are among the highest in the area, so the finished product has a higher-end look, which the corporate users seem to like," Halverson says. "You wind up with a very nice product as a result of Rancho's design criteria and attention to detail."
CREJ Staff Reporter
As industrial space in the city of Ontario is getting harder to come by, developers have begun looking eastward to meet their industrial space needs, tapping cities such as Rancho Cucamonga, Fontana and Redlands for developable land. Following suit, Opus West Development Corp., a full-service real estate company for the western United States, has broken ground on it newest venture, the Rancho Technology Park. Its two buildings, totaling 341,000 square feet, will be located at 8949 Buffalo and 8950 Rochester in Rancho Cucamonga.
"There is an abundance of available, developable land in Rancho Cucamonga," says Craig Halverson, director of real estate development at Opus' Irvine office. "There has been tremendous development in the Ontario area and the demand there is very strong. As the land gets developed, developers' choices are getting smaller so they are looking at choices farther east, as far as Redlands and Moreno Valley."
Purchased in January 2001, the property stands just north of the Ontario Mills Mall, near Interstates 10 and 15, where a variety of high-profile neighbors, including Mission Foods, Home Depot, Frito Lay and Kmart, have already established distribution facilities.
"We're actively marketing the space and have received interest on both properties," says Bill Heim, senior director of Lee & Associates, which will handle the marketing and leasing for the park. "We're looking to attract consumer-oriented companies. Users all have a preference to be in the greater Ontario marketplace because of its proximity to the I-10 and I-15."
Within the last several months, Opus has made a name for itself in the Inland Empire, developing more than 1 million square feet of space in the two-county region. The Phoenix-based company recently completed construction on a 330,000-square-foot, build-to-suit industrial space leased to Petco in Mira Loma and the Philadelphia Distribution Center, a 418,000-square-foot facility, also in Mira Loma.
Designed by architect Hill Pinkert, Rancho Technology Park will house two buildings, 140,200 square feet and 201,500 square feet, and will feature top-of-the-line amenities including, concrete tilt-up construction, an ESFR sprinkler system and a 30-foot minimum clear height, concrete entrances and plush landscaping.
"At 340,000 square feet, this is our largest industrial development in the Inland Empire," Halverson says. "This will be a state-of-the-art facility. We've got all the latest high-end criteria - all the whistles and bells -- including high ceiling clearances, 100 percent concrete truck ports and a great location in a corporate environment."
Construction for the new distribution center is scheduled for completion in January 2002.
"Rancho Cucamonga is a great city to work with because the development standards are among the highest in the area, so the finished product has a higher-end look, which the corporate users seem to like," Halverson says. "You wind up with a very nice product as a result of Rancho's design criteria and attention to detail."
#273785
Ron Mc Nees
Daily Journal Staff Writer
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