Newcastle Partners Completes Construction of 600,000-Square-Foot Distribution Building in Meridian Business Park
RIVERSIDE, Calif., December 19, 2013 – Newcastle Partners, Inc., a San Francisco-based real estate investment and development company, has completed construction of a 600,000-square-foot Class A distribution building located at 14600 Innovation Drive in the Meridian Industrial Park in Riverside, Calif.
The state-of-the-art facility is situated on the west side of the 215 freeway, offering excellent visibility to the freeway and strategic access to Southern California and the ports. The building features include: 32′ clear height, ESFR sprinkler system, 200′ truck courts, and immediate access to the 215 freeway.
“This project is consistent with Newcastle Partners’ strategy of aggressively growing a substantial industrial portfolio in the Inland Empire. The Inland Empire industrial market continues to outperform other national markets across all fundamentals. We’ll continue to invest in this region as corporate America continues to expand here,” said Dennis Higgs, Newcastle Partners’ Managing Partner and Founder. “Our building offers the highest construction quality as well as the best identity and security in the entire market, for both the Inland Empire East and West.”
According to Jackson Smith, who heads Southern California operations for Newcastle Partners, the property has already attracted a significant amount of interest. “Large, corporate users are actively seeking to either bring their distribution activity into the Inland Empire market, or they are local and are seeking to relocate and/or expand into new, quality product of this size requirement.”
Leasing agents for the Meridian Industrial Park facility are Phil Lombardo and Chuck Beldon of Cushman and Wakefield.
About Newcastle Partners: Founded in 1999, Newcastle Partners, Inc. is a real estate investor and developer focused on industrial, office and business park properties in California. Newcastle Partners has a proven track record of creating substantial value. Newcastle Partners has offices in Irvine and San Francisco, California, and currently owns or has recently developed more than $728 million of properties. Visit Newcastle Partners at www.newcastlepartners.com.