August 7, 2019
Atlanta-based Seefried Properties partnered with Crow Holdings on the purchase of a 24-acre land site in Riverside’s Meridian Business Park (pictured). The pair plan to develop a speculative industrial project encompassing 375,000 square feet.
The development will consist of three fully-entitled buildings featuring 32-foot clear heights, 60 trailer spaces, 65 dock doors and 387 auto stalls. The facility is located within a 1,290-acre master-planned commerce and distribution center off Interstate 215.
Seefried Properties’ Scott Irwin says, “This acquisition represents an opportunity to quickly develop a three-building project with buildings ranging from 100,000 square feet to 150,000 square feet, which is a size segment that continues to experience upward rental growth and asset appreciation.”
Construction is set to begin in November 2019, and slated for completion during Q2 2020. Cushman and Wakefield’s Phil Lombardo, Chuck Belden and Andrew Starnes, along with Lee & Associates’ Joe McKay and Chris Morrell, handled the deal.
For comments, questions or concerns, please contact Dennis Kaiser