March 13, 2017 Comments Off on Newcastle Initiates $48M in Industrial Development Views: 512 California News, Inland Empire

Newcastle Initiates $48M in Industrial Development

San Francisco-based Newcastle Partners commenced construction on a pair of industrial facilities in the Inland Empire totaling more than 570,000 square feet. At build-out, the properties will be valued at $48.3 million.

Meridian Distribution Center II, which totals 503,500 square feet, is in Riverside, CA. Situated on 26.9 acres at 22000 Opportunity Way, the project is expected to be completed in summer 2017.

The Class A industrial facility will include 88 dock high doors, two ground-level doors, 150 trailer parking stalls, and 217 car parking spaces. Cushman & Wakefield’s Phil Lombardo, Chuck Belden and Andrew Starnes are leasing the project.

The second facility, which totals 71,000 square feet, is on 3.6 acres at 5490 Schaefer Ave. in Chino, CA. The project is expected to deliver in fall 2017. Lee & Associates’ Patrick Bogan and Steve Coulter have the leasing assignment.

Read more at Inland Empire Business

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