New Class A building will meet the demand of a top national industrial market that feeds off advantageous logistics and the region's unrivaled population base and seaports
IRVINE, CA / ACCESSWIRE / January 26, 2023 / Core5 Industrial Partners, in a joint venture with MBK Industrial Properties, announces the groundbreaking of Arrow Business Center, a 49,291-square-foot Class A industrial building in Rancho Cucamonga. Located in Southern California's high-demand Inland Empire submarket, the state-of-the-art warehouse facility, scheduled for completion in September 2023, will offer approximately 49,291 square feet of Class-A space just minutes from both I-15 and I-10 freeways and an international airport. The project is approximately 60 miles from the ports of Los Angeles and Long Beach, which are the largest in the country.
"This project stands out for many reasons, especially because of how rare the opportunity is to find a prime infill location like this in a high-demand submarket that has seen an extensive amount of development over the last decade," said Jon Kelly, Vice President for Development at Core5 Industrial Partners. "The combination of state-of-the-art building features, outstanding access and advantageous supply and demand dynamics will result in heightened attention from potential occupants."
Located on 2.42 acres at 11770 Arrow Route in Rancho Cucamonga, less than 1.5 miles from Interstate 15 and less than five miles from Ontario International Airport, Arrow Business Center will include five dock-high doors and one drive-in position, 32-foot clear height, 145' deep truck court, six-inch floor slab and an ESFR sprinkler system. Additional features include solar power and ample parking with five trailer parking stalls and 46 vehicle stalls.
"This is a tremendous opportunity to develop in the top national industrial market, which offers not only the huge Southern California population base, but also unrivaled logistical connections with the close-by interstates, airports and the ports of Los Angeles and Long Beach," said Vijay Pandurangadu, MBK's Vice President of Industrial Properties."Those advantages have really driven our decision to target the Inland Empire with Arrow Business Center being our third project in the market."
In addition to Arrow Business Center, Core5 and MBK also have a joint venture in San Antonio, Texas. With offices from coast to coast, Core5 was named a top 3 industrial developer in Atlanta1 and has delivered approximately 14 million square feet in the last two years nationwide, with an additional 14 million square feet under construction. MBK currently has 2.9 million square feet of committed projects in its pipeline.
Arrow Business Center will be available for occupancy in September 2023 and is being leased by David Neault of KW Commercial (dneault@kwcommercial.com).
About MBK Industrial Properties and MBK Real Estate
MBK Industrial Properties (mbkindustrialproperties.com), a wholly owned subsidiary of MBK Real Estate, is an active investor and developer of industrial real estate for speculative and build-to-suit development projects across the US western markets and Texas. MBK Real Estate (mbk.com) is a leading developer and investor in senior living communities, multi-family residential and industrial real estate. Founded in 1990, MBK brings three decades of experience developing, acquiring and operating award-winning projects and providing outstanding standards of service. MBK Real Estate is a wholly owned subsidiary of Mitsui and Co. Ltd., a global Fortune 500 company.
About Core5 Industrial Partners
Core5 Industrial Partners (c5ip.com) is an industrial real estate property company with expertise in development of Class-A properties featuring the latest innovations throughout the United States. Headquartered in Atlanta, Georgia, Core5 has development activity in Atlanta, Cincinnati, Northern Kentucky, Columbus, Dallas, Houston, Indianapolis, Los Angeles/Inland Empire, Louisville, Memphis, Nashville, Pennsylvania, Phoenix, San Antonio and South New Jersey with expansion plans to additional key logistic hubs in the US. Founded in 2015, the company has developed or begun construction on 35 million square feet since inception.
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1https://www.bizjournals.com/atlanta/subscriber-only/2022/10/14/atlantas-largest-industrial-commercial-developers.html
SOURCE: MBK Industrial Properties
View source version on accesswire.com:https://www.accesswire.com/736797/Core5-Industrial-Partners-and-MBK-Industrial-Properties-Break-Ground-on-Speculative-Distribution-Building-in-the-Inland-Empire
