{"id":1004036533,"date":"2012-02-14T07:16:08","date_gmt":"2012-02-14T15:16:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004036533"},"modified":"2022-12-08T17:39:54","modified_gmt":"2022-12-09T01:39:54","slug":"usaa-overton-moore-to-develop-523-ksf-inland-empire-industrial-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/usaa-overton-moore-to-develop-523-ksf-inland-empire-industrial-facility\/","title":{"rendered":"USAA, Overton Moore to Develop 523 KSF Inland Empire Industrial Facility"},"content":{"rendered":"

February 14, 2012<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em><\/p>\n

Along with multi-family, the industrial sector will likely see some significant gains during 2012. According to a January report by services firm Cushman & Wakefield Inc., activity has sprung back to pre-recession levels, with 306 million square feet of leases signed in 2011 \u2013 a level not seen since 2007.<\/p>\n

\u201cTwo things are happening,\u201d Jim Dieter, executive vice president and head of industrial brokerage for Cushman told\u00a0Commercial Property Executive<\/em> about the year-end report. \u201cOne, there is renewed confidence in the market. And two, we\u2019re getting a verification that there is an acute shortage of big-box distribution space.\u201d<\/p>\n

To capitalize on the need for that space, USAA Real Estate Co. has acquired 26 acres of land in Moreno Valley, Calif., that will be the future site of a 522,772-square-foot distribution center. Southern California-based Overton Moore Properties will act as developer for the project.\u00a0 Millie and Severson Inc. will serve as contractor, and the architect on the project is HPA Inc.<\/p>\n

Noting that the building will \u201cfill a needed niche in within the marketplace,\u201d Overton CEO Timur Tecimur mentioned that his firm is looking forward to find tenants \u201clooking for a highly efficient cross-dock building.\u201d<\/p>\n

A third-quarter 2011 report by Voit Real Estate Services noted that the Inland Empire industrial market has seen a rise in asking lease prices, reaching $0.35 per square foot. \u201cThe widespread increase in rates year-to-date, coupled with rising industrial lease rates in three major markets just eight weeks into the third quarter, indicate that the industry is coming off the bottom,\u201d Jerry Holdner, director of market research for Voit, said.<\/p>\n

The building, to be called Centerpointe Logistics Center, will have a cross-dock configuration with 113 dock positions and 126 trailer storage spaces.<\/p>\n","protected":false},"excerpt":{"rendered":"

To capitalize on the need for industrial space, USAA Real Estate Co. has acquired 26 acres of land in Moreno Valley, Calif., that will be the future site of a 522,772-square-foot distribution center. Southern California-based Overton Moore Properties will act as developer for the project.<\/p>\n","protected":false},"author":1201,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,15],"tags":[],"class_list":["post-1004036533","post","type-post","status-publish","format-standard","hentry","category-development","category-industrial","category-latest","category-west"],"acf":[],"yoast_head":"\nUSAA, Overton Moore to Develop 523 KSF Inland Empire Industrial Facility - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/usaa-overton-moore-to-develop-523-ksf-inland-empire-industrial-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USAA, Overton Moore to Develop 523 KSF Inland Empire Industrial Facility\" \/>\n<meta property=\"og:description\" content=\"To capitalize on the need for industrial space, USAA Real Estate Co. has acquired 26 acres of land in Moreno Valley, Calif., that will be the future site of a 522,772-square-foot distribution center. 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