MCSHANE CORP., METLIFE REAL ESTATE ACQUIRE 84-ACRE SITE FOR INDUSTRIAL PARK

REDLANDS, CALIF. — The McShane Corp./MetLife Real Estate Investments industrial alliance has acquired an 84-acre land parcel, which is located within the Redlands Business Center in Redlands, from Long Beach, Calif.-based Bixby Land Co. for an undisclosed price. Located within the 227-acre master-planned business park, the center will be developed in two phases. The first phase will feature six industrial facilities totaling 612,000 square feet ranging in building size from 70,000 to 150,000 square feet. Slated to break ground third quarter, the first building will comprise 131,510 square feet of office/warehouse space and feature 30-foot clear heights, a two-story executive office component, up to 20 dock-high truck doors, two ground-level loading doors, a 180-foot secured truck court and 3,000 amp electrical capacity. McShane Construction Corp. and RKZ Inc. are providing design/build services for the development.