DESERT HOT SPRINGS, CALIF. — Shopoff Realty Investments has acquired a 55-acre property in Desert Hot Springs, a city in the Inland Empire East region of Southern California, with plans to develop an industrial project at the site.
Upon completion, the development will comprise 1.1 million square feet of distribution and warehouse space. The property, which is situated with proximity to the site of an Amazon warehouse and with direct access to I-10, will feature 167 docks, 498 trailer stalls and a clear height of 42 feet.
“This Desert Hot Springs project represents a rare opportunity to acquire a property that is already entitled and ready for development, in an area with significant demand from e-commerce companies for logistics and warehouse space,” says William Shopoff, president and CEO of the firm. “With neighbors such as Amazon and FedEx, this location has the potential to provide a great investment for many years to come and will offer third-party logistics companies significant drayage savings compared to projects in Arizona and Las Vegas.”
Construction on the project is scheduled to begin in the third quarter of this year, with an anticipated timeline of 12 months.
Ian DeVries and Christ DeVries of Colliers, along with Brad Yates and Stefan Pastor of Stream Realty Partners, will manage leasing at the development, which is anticipated to begin prior to project completion.
Shopoff Realty Investments is a privately held value-add investment firm and developer based in Irvine, Calif. William Shopoff founded the company in 1992. The company’s portfolio includes the mixed-use redevelopment of Westminster Mall in Orange County and Parktown Residences at Uptown Newport in Newport Beach, Calif.
— Hayden Spiess