Catellus Subsidiary Acquires Former Steel Mill

A Catellus Development Corporation subsidiary is the new owner of a 588-acre former Kaiser Steel Mill property in Southern California’s Inland Empire. The site, to be redeveloped as Kaiser Commerce Center, was purchased for approximately $16 million from Kaiser Ventures Inc.

The property – the only large, developable parcel in the Los Angeles Basin with rail service from both Burlington Northern Santa Fe (BNSF) and Union Pacific (UP) – is located six miles from Ontario International Airport near the junction of Interstates 10 and 15. A six million-sf industrial park and a truck plaza are planned for the site.

Over the past five years in the area, Catellus has developed and currently owns the neighboring Crossroads Business Park, Rancho Cucamonga Corporate Park, Ontario Pacific Distribution Center, and Pacific Gateway. All told, Catellus has built and leased approximately 3.1 million sf in the area, and another 1.5 million sf is under development. Another one million square feet of buildings and 65 acres of land in the area have been sold by the company.