UPDATE – Hardwoods Specialty Products Leases 147,000 Building in Harley Knox Logistics Center

Construction Completed of Knox Logistics Center; a 147,000-Square-Foot Industrial Building in Moreno Valley, California

Moreno Valley, CA – Newcastle Partners, Inc., a real estate investment and development company, recently completed construction of Knox Logistics Center, a 147,000-square-foot industrial building in Moreno Valley. Valued at approximately $14 million, the property is located at 17610 Harvill Avenue.

The Class A facility is situated on 8.21 acres and features 104 parking stalls, 26 loading docks, 32” clear height, and a 122’ truck court. Its corporate neighbors include Kraft Foods, Amazon, Lowes, Home Depot and a host of other Fortune 500 companies, and offers direct access to the freeway via the Harley Knox Blvd. on/off-ramp. The property has identity and clear visibility from the 215 Freeway. William Heim of Lee & Associates is handling marketing of the building, which is for sale or lease.

“Newcastle currently has a total of four million square feet of industrial property currently under construction or recently completed in the Inland Empire region of Southern California,” said Dennis Higgs, managing partner and founder with Newcastle Partners. “We are pleased to see Knox Logistics Center’s successful completion and have seen a substantial amount of interest from potential corporate users. With Fortune 500 corporate neighbors like Amazon, Kraft Foods and Home Depot, the location as it relates to logistics, sells itself.”

Some of Newcastle Partners’ other current activity in the Inland Empire includes:

• Construction commencement on Meridian Distribution Center II, which totals 503,592 square feet and is situated on a 26.93-acre land parcel at 22000 Opportunity Way in Riverside.
• Construction commencement on a 71,000-square-foot facility situated on approximately 3.6 acres of land at 5490 Schaefer Avenue in Chino.

About Newcastle Partners:

Newcastle Partners is a privately held, full-service, commercial real estate investment and development company focusing exclusively in West Coast gateway marketplaces. The company is uniquely positioned to execute a variety of strategies to add value, including land entitlement, new construction, and asset repositioning to create and capture incremental value. Founded in 1999, the firm has established itself as an experienced investor/developer with superior risk-adjusted returns on behalf of a deep list of institutional and private investors.

Newcastle has completed the acquisition and/or development of a diversified portfolio of over 50 projects totaling over 15 million square feet, representing a total investment of over $1.1 billion.