Joint Venture Plans $30M Industrial Project in Oceanside

OCEANSIDE, CA-Stirling Enterprises and Hamann Construction have formed a joint venture to develop 357,000 sf of industrial space, valued at $30 million, at Ocean Ranch Corporate Centre. In all, the partnership will include development of nine industrial buildings on 24 acres of land.”We have teamed with Hamann Construction to continue the strong activity the park has already enjoyed,” says Dougall Agan, principal of Foothill Ranch–based Stirling Enterprises, the master developer of Ocean Ranch Corporate Centre, a 400-acre business park, with such high-profile tenants as Biogen Idec, Ashworth, OneSource and Coca-Cola. Construction of the park expansion is set for second quarter 2005.The first 14-acre parcel of the joint venture includes two divisible buildings that will total approximately 212,000 sf. The spaces can range from 7,000 to 100,000 sf. The facilities will be for-lease and include 7,000 sf of dock high loading. “Dock high loading has not been offered before at Ocean Ranch,” says Gregg Hamann, chief financial officer for Hamann Construction, a San Diego-based contractor and developer. The second, 10-acre parcel will include seven for-sale buildings ranging from 12,000 to 18,000 sf and totaling 145,000 sf. Upon final build out Ocean Ranch Corporate Centre will total an estimated 4.5 million sf and generate between 4,100 to 8,000 direct jobs and approximately 12,000 ancillary jobs in the Oceanside area, according to Dr. Richard Parker, a professor with the Department of Public Administration and Urban Studies at San Diego State University. Approximately $2 billion will be invested in the business park at build out and will generate an estimated $12 million in property taxes and in excess of $4 million in development impact fee revenue for the City of Oceanside. David Onosko and Ron King of Coldwell Banker Commercial North County Properties in Carlsbad, Calif. are the listing brokers for Ocean Ranch Corporate Centre, including this new development.Hamann Construction is responsible for developing in excess of 1.5 million sf of space at Ocean Ranch including a 200,000-sf distribution facility for Ashworth, a golf-apparel manufacturer, a 90,000-sf building for OneSource Distributors and a 35,000-sf facility for Robert Mann Packaging. In another joint venture, Hamann has formed a partnership with San Diego-based Carltas Development Co. to develop Oceanic Business Park. That project counts nearly 400,000 sf of industrial space in two separate phases on approximately 30 acres off Corporate Center Drive in Oceanside.