CapRock Completes 1.1 MSF Inland Empire Projects

The owner already leased roughly 190,000 square feet.

Palomino Ranch Business Park Phase I

Palomino Ranch Business Park Phase I. Image courtesy of CapRock Partners

CapRock Partners has completed the construction of two industrial properties in Norco, Calif., totaling approximately 1.1 million square feet. The developer finished work on the first phase of Palomino Ranch Business Park, comprising eight buildings, along with Saddle Ranch South, which encompasses three buildings.

The owner hired Lee & Associates to handle leasing at Palomino Ranch and JLL for Saddle Ranch South.

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The first phase of Palomino Ranch Business Park comprises roughly 700,000 square feet across 44 acres, located at 1700-1910 Mountain Ave. The buildings range between 57,000 and 160,000 square feet of industrial space, with an additional 50,000 square feet of office space. Features include 30- to 36-foot clear heights, ESFR sprinkler systems and truck courts with up to 185-foot depths. The first phase of Palomino Ranch is LEED Silver certified. The developer secured a full-building lease for the 67,400-square-foot Building 9.

The second phase of construction is expected to start this month and will encompass an additional 750,000 square feet, while the third will bring 533,000 square feet, with construction scheduled to begin in the third quarter.

When completed, Palomino Ranch Business Park will be a 112-acre master-planned industrial campus, the largest one in the city’s history, with approximately 2 million square feet spread across 24 buildings. The project was CapRock’s third ground-up development in Norco and received $200 million in financing from American International Group.

The project is 2 miles north of the intersection of Interstate 15 and Freeway 91, 13 miles from Ontario International Airport and within 55 miles of Los Angeles International Airport.

Lee & Associates’ team marketing Palomino Ranch Business Park for lease comprises Senior Vice Presidents Jeff Ruscigno and Paul Earnhart, together with Senior Vice Presidents & Principals Brian Pharris, Austin Hill, Ryan Earnhart and Jeff Smith.

Saddle Ranch South

Saddle Ranch South.

Saddle Ranch South. Image courtesy of CapRock Partners

CapRock’s Saddle Ranch South is roughly 2 miles north, at 3000, 3050 and 3100 Horseless Carriage Drive. Its buildings range between 100,000 and 155,000 square feet. Features include 32-foot clear heights, 12 to 14 dock-high doors, ESFR sprinkler systems, 27 trailer parking spots, 22,160 square feet of total office space and 304 vehicle parking spots.

Designed for local and regional distribution and manufacturing companies, the industrial campus is 34 miles from John Wayne Airport and roughly 55 miles from the ports of Long Beach and Los Angeles. The company has recently secured a full-building lease at Saddle Ranch South’s Building 2, totaling 119,641 square feet, which brought the project to 32 percent occupancy.

JLL Executive Vice President Cody Clayton, Senior Vice President Scott Coyle, Executive Managing Director Patrick Wood and Managing Director Eric Chou are the exclusive leasing agents in charge of the project.

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