West Coast developer The Sares-Regis Group and RREEF Real Estate Investment Managers are developing an ambitious multi-phased industrial project in Rialto, Calif. The $67 million project will consist of a pair of industrial buildings that will total more than 1.1 million sq. ft.
Sares-Regis currently has about 2.8 million sq. ft. of industrial projects under development in the Inland Empire, and about 3.8 million sq. ft. of commercial development under way on the West Coast.
"We continue to make the investment in the region and are pleased to see that it consistently remains one of the fastest-growing markets in the U.S.," says Bruce Bearer, senior vice president of Sares-Regis. The firm has bought or developed roughly 36 million sq. ft. of commercial properties and 18,000 multifamily and residential housing units.
The Rialto Commerce Center I will consist of a 435,733 sq. ft. distribution building on nearly 25 acres, and is expected to be finished by May 2005. Rialto Commerce Center II will include 705,476 sq. ft. of industrial space. The project is located near the Ontario, Calif., international airport. Both buildings will provide tenants with dock-high and ground level loading facilities, plus truck and car parking.