Newcastle Partners to Develop Three Spec Industrial Facilities Totaling 824,300 SF in Inland Empire
REDLANDS AND RIVERSIDE COUNTY, CALIF. — Newcastle Partners is developing three speculative industrial properties in the Inland Empire totaling 824,500 square feet.
The company, in partnership with Sun Life, plans to construct Redlands Commerce Center, a 190,000-square-foot warehouse distribution facility in Redlands. Construction costs are estimated at $20.1 million for the speculative industrial facility.
In a joint venture with Rockefeller Group Development, Newcastle has planned a 345,000-square-foot industrial warehouse and distribution center on 16.8 acres of land on Harvill Avenue in Riverside County. Construction is scheduled to start in the fourth quarter, with completion slated for late third-quarter 2021.
In another joint venture with Rockefeller Group, the company plans to construct Val Verde Distribution Center, a 289,300-square-foot property on 12.9 acres at the northwest corner of Cajalco Road and Harvill Avenue in Riverside County. Construction is set to start in the fourth quarter, with completion scheduled for third-quarter 2021.