The developer has paid $7.3 million for the fully entitled parcel, which counts retail, office, hotel and industrial as permitted uses under the zoning guidelines from the County of San Bernardino. Immediately adjacent to the I-10 Freeway at the new Commerce Center interchange, the site has been touted as the premier location and entry into the new 588-acre Kaiser Commerce Center owned by Catellus Development Corp.
The recent purchase fits in with Watson Land's intensifying focus on rapidly growing industrial markets. "We are actively seeking acquisitions in top Southern California industrial markets such as the Inland Empire," says Jefferson Hill Jr., vice president, Acquisitions for Watson Land Co. "Our acquisition program is targeted to increase our portfolio by 50% over the next five years."
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