Rockefeller Breaks Ground on California Distribution Center
- Sep 26, 2019
Rockefeller Group has broken ground on a 203,944-square-foot speculative distribution center in Moreno Valley, Calif. The construction of Centerpointe Commerce Center is expected to finish by summer 2020. Herdman Architecture + Design is in charge of the building’s design, while construction company RM Dalton will be building the project. Lee & Associates is handling leasing for the upcoming property.
Located at 14180 Frederick St., Centerpointe will be near several highways, including interstates 10 and 215, as well as state roads 60 and 91. California’s Ontario International Airport, BNSF Intermodal Yard and the Ports of Los Angeles and Long Beach will also be close to the facility. Centerpointe is set to feature 32-foot clear ceiling heights, 8,000 square feet of speculative office space, 106 car parking stalls and 26 trailer parking stalls on a nearly 8.8-acre lot.
Rockefeller took over this project after purchasing the property from Newcastle Partners in April for $5.9 million. The previous owners had already received the necessary approvals to start the project, including governmental approvals, in October 2017 and the entitlements and zoning before selling to Rockefeller.
Investing in the Inland Empire
Marc Berg, vice president & regional director for Rockefeller’s West region, said in a prepared statement that Centerpointe would be an ideal location for an e-commerce tenant looking for a new or expanded presence in the area. He added that the area market’s demand for small- to medium-sized industrial buildings in the Inland Empire has remained strong because of low vacancy rates.
Rockefeller Group has kept busy in the Inland Empire, completing nearly two million square feet of new industrial product in the area in 2018. More recently, a global consumer electronics distributor signed a 138,851-square-foot lease at Rockefeller’s Tri-City industrial complex in San Bernardino, Calif. Rockefeller later sold off the fully leased asset in July.