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September 15, 2020 Comments Off on Rockefeller Acquires 30 Acres from Newcastle, Plans Industrial Development Views: 560 California News, Inland Empire

Rockefeller Acquires 30 Acres from Newcastle, Plans Industrial Development

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Rockefeller Group acquired roughly 30 acres in Riverside County from Newcastle Partners for nearly $20 million and plans to develop 623,109 square feet of Class A industrial distribution space. The first project, Val Verde Logistics Center, is located on 12.96 acres and will include a 289,556-square-foot speculative distribution building.

The second project, Harvill Avenue Logistics Center, is located on 16.86 acres and will include a 333,553-square-foot speculative distribution building. Both projects are expected to break ground in October 2020.

Rockefeller Group’s James V. Camp says, “Working closely with Newcastle Partners, we were able to acquire these two prime sites along the I-215 corridor and will bring more than 600,000 square feet of Class A industrial product to the market by Spring 2021.”

Newcastle Partners’ Jackson Smith says, “We have spent the past two to three years on getting these two parcels ready for development and are happy to see Rockefeller Group complete what we started in Riverside County.”

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