San Francisco, CA (January, 2016) – Newcastle Partners, Inc., a San Francisco-based real estate investment and development company, is currently involved in a flurry of activity in the Inland Empire industrial markets of Southern California.
Most recently, Newcastle acquired 3.6 acres of land located at 5490 Schaefer Avenue in Chino, Calif. for development of a 78,000-square-foot industrial building. The firm plans to commence construction in the spring of 2016 with completion at the end of 2016.
Newcastle was represented by Patrick Bogan, Steve Coulter and Henry Hong of Lee & Associates in the land sale, acquired from the City of Chino. Newcastle plans to build an industrial building that is divisible with offices to suit tenant requirements. The building will be 30’ clear height and have a secured truck court with eight dock-high doors and two ground-level doors. The project is in an excellent western Chino location near Central Avenue.
“The Chino industrial market remains white hot with ongoing quarterly improvement. As vacancy rates continue to decrease, we see greater opportunity to build new product,” said Jackson Smith, partner at Newcastle Partners. “This is an ideal single-tenant building, but is easily divisible for two tenants as well.”
Newcastle also announced the completion of two large industrial facilities within the Inland Empire market. In the City of Redlands, the firm is putting the finishing touches on a 304,000-square-foot, state-of-the-art, industrial warehouse facility, and is nearing completion on a 400,000-square-foot class A industrial building. Both projects are represented by Jeff Smith of Lee and Associates. Additionally, in Ontario, the firm recently broke ground on a 100,000-square-foot class A industrial facility and anticipates breaking ground on a 150,000-square-foot warehouse at Harley Knox Boulevard and the 215 Freeway in January 2016.
About Newcastle Partners: Founded in 1999, Newcastle Partners, Inc. is a real estate investor and developer focused on industrial, office and business park properties in California. Newcastle Partners has offices in Irvine, Santa Monica and San Francisco, California, and currently owns or has recently developed more than $1.3 Billion of properties. Visit Newcastle Partners at www.newcastlepartners.com.