FONTANA, CA-Developer Overton Moore Properties of Gardena, CA plans to develop a 454,000-square-foot, class A industrial building on an 18-acre site that it has acquired here. The developer’s plan for the project, called OMP Fontana Distribution Center, underscores the improvement in the Inland Empire industrial market, where demand for big-box space, especially, has been increasing.
The new OMP project will be approximately a half mile south of the Interstate 10 Freeway, with access to both Elm and Poplar avenues. The single-tenant building will feature 32-foot clear height, 56 dock doors, 82 trailer parking stalls, 200-foot truck courts and ESFR system.
Timur Tecimer, president of OMP, described the project site as “a tremendous land acquisition opportunity in the Inland Empire West market, one of the most active and dynamic markets in the country.” He added, “There is strong demand for buildings in excess of 400,000 square feet in the Inland Empire West.” OMP to break ground during the fourth quarter of this year, with a completion in June/July of 2012.
Representing OMP and the seller of the 18 acres, Hanson Roof Tile Co., were Colliers International’s Josh Hayes, Tom Taylor and Steven Bellitti. The project will be a joint venture with Chicago based, LaSalle Investment Management. The architect for the project is HPA Architects.
The latest quarterly report on the Inland Empire West from Colliers International notes that the total vacancy rate in the West Inland Empire continued to fall for the sixth consecutive quarter, down 1% over the previous quarter to end at 7.6%. “This is the lowest the vacancy rate has been since the third quarter of 2008,” the Colliers report states. “All signs point to a continued recovery in the West Inland Empire.”
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