June 12, 2019
Rexford Industrial Realty, Inc. acquired a 15.47 acre fully-entitled development site in Eastvale, CA for $18.2 million. Rexford retained the undisclosed seller as fee developer to construct the project, branded as ‘The Merge,’ which will contain 333,500 square feet of industrial space within six buildings.
“We are pleased to leverage our local relationships to capitalize upon a unique opportunity to develop state-of-the-art Class A industrial buildings within a prime infill Southern California industrial market,” stated Rexford’s Howard Schwimmer.
The high-image project comprises 10 warehouse spaces ranging from 20,000 to 45,000 square feet featuring 30-foot to 32-foot clear heights, ESFR fire sprinklers and market-leading dock-high loading capacity. Delivery is expected during Q3 2020 after incurring incremental all-in development and construction costs of roughly $37 million.
Located near Ontario International Airport and several freeways, the project is well-positioned adjacent to a new retail complex that will serve as the city’s cornerstone commercial development.
For comments, questions or concerns, please contact Dennis Kaiser