Seefried Properties, Crow Holdings Acquire 24-Acre Site for Industrial Development in Riverside
RIVERSIDE, CALIF. — Seefried Properties, in partnership with Crow Holdings, has purchased a 24-acre site within Meridian Business Park, a 1,290-acre master-planned commerce and distribution center in Riverside.
The buyers plan to develop three fully entitled speculative buildings totaling 375,000 square feet on the site. The buildings will feature 32-foot clear heights, 60 trailer spaces, 65 dock doors and 387 auto stalls. Construction is slated to begin in November with completion scheduled for second-quarter 2020.
Phil Lombardo, Chuck Belden and Andrew Starnes of Cushman & Wakefield, along with Joe McKay and Chris Morrell of Lee & Associates, handled the transaction for Seefried Properties and Crow Holdings.