Catellus could build up to 43.5 million sf of distribution space at the 5,000-acre air base, now known as Southern California Logistics Airport, according to the announcement. The former military site is being redeveloped as a distribution center and cargo hub by Laguna Hills-based Stirling in a venture with Southern California Logistics Airport Authority.

Charles McPhee, a senior vice president of Catellus, tells GlobeSt.com the company has not signed any deals for specific projects yet, but it is in discussions with prospective airport tenants. "Our focus is to attract large-scale industrial distribution buildings," McPhee says.

McPhee says Catellus, which has built about 3 million sf in the region, will focus initially on build-to-suit projects. "It's too soon for spec," he says.