Newcastle Partners broke site in a class A 406.138 square base, speculative industrial development in Heperia, Calif.
The delivery of the project is expected in the second quarter of next year and the building is currently available for sale or lease. Voit Real Estate Services deals with all marketing, sales and lease persons for the property.
Director of Commercial Real Estate Reported in March that Newcastle partners had obtained $ 27.5 million in construction financing for their project, called Mesa Linda Logistics Center. A JLL Capital Markets team led by senior director Greg Brown, director Samuel Godfrey and Associate Allie Black arranged the driving speed, non-recourse loan through a bank.
The approximately 18.26 hectare site on 9260 Mesa Linda St. offers immediate access to I-15 (the Barrestow/Mojave Freeway), the developers notes that the real estate makes the real estate ideal for a buyer or tenant looking for a logistics or distribution hub in the region. This is particularly true, Voit claims, given Amazon’s dedication to Hesperia.
Read also: Industrial vacancy climbs, development and prices
The e-tailer is underway at a distribution facility of 2.5 million square foot “Middle Mile” on Phelan Road in Hesperia, according to a local newspaper report. It is said that the building will deliver at the end of 2026.
From March, Mesa Linda Logistics Center 36-foot would contain clear heights, 54 docking doors, 57 parking stalls, 215 parking spaces, ESFR-Sprinklers and 12,000 square-footed office and mezzanine space.
The Voit Brokerage team that handles the marketing, sales and leasing activities of the project is led by Ryan Lal, senior vice president, and Dante Borruso, vice -president, both from the office of Voit’s Ontario.
A little wilt in the desert
The industrial space market in the Interior Empire saw the total vacancy rise to 6.0 percent in the second quarter, in addition to a total availability of 12.3 percent, according to a recent report by Kidder Mathews.
One result has been more caution by developers, and another was lower rents, which currently an average of $ 1.04 as a direct demand rate.
“Despite the softer growth of e-commerce, the demand for specialized spaces such as cold storage and last-mile Logistics,” Kidder Mathews reported. “High efficient buildings rent well, while older, less adaptable facilities are confronted with pressure.”
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