{"id":1004259590,"date":"2018-08-23T04:49:01","date_gmt":"2018-08-23T12:49:01","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004259590"},"modified":"2022-12-08T22:51:34","modified_gmt":"2022-12-09T06:51:34","slug":"ivanhoe-cambridge-plans-450m-industrial-project-in-inland-empire","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-plans-450m-industrial-project-in-inland-empire\/","title":{"rendered":"Ivanho\u00e9 Cambridge Plans $450M Industrial Project in Inland Empire"},"content":{"rendered":"

By Scott Baltic, Contributing Editor <\/em><\/p>\n

\"Colony<\/a>

Colony Commerce Center<\/p><\/div>\n

Ivanho\u00e9 Cambridge has acquired from CapRock Partners two large parcels of land in Ontario, Calif., which will be developed as Colony Commerce Center, a more than $450 million Class A industrial project, the two companies announced. CapRock Partners will develop the 11-building, two-phase project on behalf of Ivanho\u00e9 Cambridge.<\/p>\n

The purchase price was not disclosed.<\/p>\n

The project, in Southern California\u2019s Inland Empire, will consist of almost 3 million square feet of leasable space and offer building sizes as large as 1 million square feet.<\/p>\n

The two sites are adjacent, though separated by a road, and total about 150 acres, an Ivanho\u00e9 Cambridge spokesperson told Commercial Property Executive<\/em>. He added that construction of phase one is expected to start toward the end of this year and of phase two sometime in the first quarter of 2019.<\/p>\n

\u201cWe strongly believe that Colony Commerce Center will allow us to capitalize on the growing demand for rental space by offering modern industrial facilities in one of the best U.S. logistics markets<\/em>,\u201d Mario Morroni, executive vice president, Industrial, North America, at Ivanho\u00e9 Cambridge, said in a prepared statement.<\/p>\n

CapRock CEO Patrick Daniels referenced \u201cthe myriad of environmental, infrastructure, and entitlement challenges over four years to bring this strategic project to life<\/em>.\u201d<\/p>\n

Darla Longo and Barbara Emmons Perrier of CBRE National Partners West helped facilitate the transaction.<\/p>\n

A market driven by e-commerce<\/h2>\n

The Inland Empire industrial real estate market is thriving, at the intersection of continued strong growth in e-commerce and record volumes at the Ports of Los Angeles and Long Beach, according to a second-quarter report from Cushman & Wakefield.<\/p>\n

Ontario is the region\u2019s largest industrial submarket, with an inventory of 110.3 million square feet. Overall vacancy is a paltry 2.1 percent, and only about 1.1 million square feet is under construction or has been delivered YTD, again per Cushman and Wakefield.<\/p>\n

In a deal showing how tight the Inland Empire market is, earlier this month, DHL bought Cajon Distribution Center<\/a>, an 830,750-square-foot industrial property in San Bernardino, from Westcore Properties. The latter had purchased the property only a year earlier.<\/p>\n

Image courtesy of Ivanho\u00e9 Cambridge<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The company has purchased 150 acres for the construction of Colony Commerce Center, a 3 million-square-foot Class A complex to be developed by CapRock Partners.<\/p>\n","protected":false},"author":882,"featured_media":1004259641,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,34027,21742,15],"tags":[35408,32789,32799,32914,33565],"class_list":["post-1004259590","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-inland-empire","category-latest","category-west","tag-caprock-partners","tag-cbre","tag-cushman-wakefield","tag-e-commerce","tag-ivanhoe-cambridge"],"acf":[],"yoast_head":"\nIvanho\u00e9 Cambridge Plans $450M Industrial Project in Inland Empire - 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\/ivanhoe-cambridge-plans-450m-industrial-project-in-inland-empire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ivanho\u00e9 Cambridge Plans $450M Industrial Project in Inland Empire\" \/>\n<meta property=\"og:description\" content=\"The company has purchased 150 acres for the construction of Colony Commerce Center, a 3 million-square-foot Class A complex to be developed by CapRock Partners.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-plans-450m-industrial-project-in-inland-empire\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2018-08-23T12:49:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T06:51:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/08\/Colony-Commerce-Center.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-plans-450m-industrial-project-in-inland-empire\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/ivanhoe-cambridge-plans-450m-industrial-project-in-inland-empire\/\",\"name\":\"Ivanho\u00e9 Cambridge Plans $450M Industrial Project in Inland Empire - 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