San Francisco, CA (November, 2017) – Newcastle Partners, Inc., a San Francisco-based real estate investment and development company, is pleased to announce it has signed a full-building lease at Harley Knox Logistics Center, a newly developed Class A industrial facility located at 17610 Harvill Avenue in Perris, CA. The 147,000-square-foot lease spans 10 years and is with Hardwoods Specialty Products.
Founded in 1926, Hardwood Specialty Products is the premier distributor of hardwood veneers, plywood and solid lumber products, MDF, melamine, particleboard and specialty products in North America. The company will be moving approximately 30 employees into its new space January 1, 2018, which will be used for warehousing, distribution and will-call pick up.
Harley Knox Logistics Center is situated on 8.21 acres and features 104 parking stalls, 26 loading docks, 32” clear height, and a 122’ truck court. Its corporate neighbors include Kraft Foods, Amazon, Lowes, Home Depot and a host of other Fortune 500 companies, and offers direct access to the freeway via the Harley Knox Blvd. on/off-ramp. The property has identity and clear visibility from the 215 Freeway.
“Newcastle had a substantial amount of interest from good credit large users for this well-located premier industrial facility and determined that Hardwood Specialty Products was the best fit. It is not only a company with a successful history, but is continuing to grow its market share,” said Jackson Smith, Partner with Newcastle Partners. “Ultimately, with this new location, the company will be able to access both a strong workforce and customer base.”
Smith added: “The Inland Empire is seeing large logistics and manufacturing users thrive and expand as they are proximate to key transportation corridors and the ports of Los Angeles and Long Beach. We have developed more than four million square feet in the region over the past 7 years and remain more bullish than ever on this exciting region.”
Bill Heim of Lee & Associates represented Newcastle Partners in the transaction. J.D Graves and Ryan Athens of CBRE represented the tenant.
Some of Newcastle Partners’ other current activity in the Inland Empire includes:
- Waterman Industrial Center, a 563,000 square foot facility located at the intersection of Waterman Ave. and Dumas in San Bernardino. Construction commenced May 2017 and is anticipated to complete March 2018.
- Construction commencement on Meridian Distribution Center II, which totals 503,592 square feet and is situated on a 26.93-acre land parcel at 22000 Opportunity Way in Riverside. The building will be completed in December of 2017.
- Construction commencement on a 71,000-square-foot facility situated on approximately 3.6 acres of land at 5490 Schaefer Avenue in Chino. The building is scheduled to be completed in December of 2017.
About Newcastle Partners:
Newcastle Partners is a privately held, full-service, commercial real estate investment and development company focusing exclusively in West Coast gateway marketplaces. The company is uniquely positioned to execute a variety of strategies to add value, including land entitlement, new construction, and asset repositioning to create and capture incremental value. Founded in 1999, the firm has established itself as an experienced investor/developer with superior risk-adjusted returns on behalf of a deep list of institutional and private investors.
Newcastle has completed the acquisition and/or development of a diversified portfolio of over 50 projects totaling over 15 million square feet, representing a total investment of over $1.1 billion.