Transwestern Starts Work On 484K SF Of Spec Industrial In Fontana
Transwestern Development Co. has broken ground on two speculative industrial projects totaling 484K SF adjacent to Interstates 10 and 15 in Fontana, California, the company announced Tuesday.
Working with equity partner QuadReal Property Group, Transwestern Development says it will deliver the 236K SF Almeria Logistics Center at the intersection of Almeria Avenue and Foothill Boulevard in Q3.
A second development, the I-10 Commerce Center near the intersection of Boyle and Juniper avenues, will comprise two buildings totaling 172K SF and 75K SF. Transwestern Investment Group is the equity partner for this project.
Colliers has secured the leasing assignment for the buildings, all of which will feature 36-foot clear ceiling heights, large concrete truck courts and dock-high loading.
Transwestern says it has 40 industrial projects totaling 20M SF under construction or in pre-development planning stages across the U.S., including more than 2.5M SF in Southern California.
The spec development is hitting the market when industrial real estate has never been hotter. More than 220M SF of industrial space was absorbed last year nationwide, according to CBRE.