(Read more on the industrial market.)
VICTORVILLE, CA-Stirling Capital Investments has started construction on the fourth industrial building to get under way this year at the 8,500-acre Southern California Logistics Centre, a 296,000-sf warehouse that is slated to be completed in the second quarter of 2008. The building will be the first-ever logistics-oriented facility developed at the former George Air Force base.
Stirling has executed an agreement to co-market the facility with Cal Cartage, a third-party logistics provider that manages more than 13 facilities in California, Chicago, Georgia and Mexico. Brian Parno, vice president of Stirling, notes that the company will seek LEED certification for the building upon its completion. The building is part of phase one development plans that total 6.5 million sf of industrial space over 350 acres of land at the logistics center, for which Stirling is the master developer.
Stirling completed construction in September on a 408,000-sf distribution building that is occupied by Newell Rubbermaid and has started construction on two multitenant industrial buildings totaling approximately 224,000 sf. The phase one space is being marketed by the CB Richard Ellis team of Jay Dick, Darla Longo, Mark Latimer and Marc Santoro.
Newell Rubbermaid, which a global marketer of consumer and commercial products, has signed a 10-year lease for the space and became the first industrial tenant to occupy phase one development at SCLC. The company will be warehousing imported goods from Asia. From there, it will redistribute its products throughout the US.
The SCLC developers began work last month on the two logistics-oriented multitenant buildings, which are targeting smaller users. The partners have signed five letters of intent with prospective tenants representing 22% of the two new buildings, which are expected to be completed in February of 2008.
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