Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, has acquired a 19-acre site in Rialto, the company announced.
The site will be called LogistiCenterSM at Rialto I. Dermody Properties will soon begin construction of a 411,330-square-foot distribution facility, which the company expects will be complete by December of this year.
The site is located in the established Renaissance Rialto Business Park with immediate access to Interstate 210 via Alder Avenue, just east of Fontana. Renaissance Rialto Business Park is home to several corporate occupiers, including Amazon,
Target, Under Armour, Ozburn-Hessey Logistics, Niagara Bottling, Medline Industries, Monster Energy, Distribution Alternatives and Lifetime Brands.
“This is an outstanding location for logistics-focused companies because of its proximity to major freeways, giving companies easy access to Southern California markets and the L.A. and Long Beach ports,” said Pat Gallagher, partner, Southwest Region for Dermody Properties. “This is a continuation of Dermody Properties’ strategy to actively acquire and develop in Southern California.”
The building features a 36’ clear height, a 185’ concrete truck court, and 49 dock-high doors, 77 truck trailer spots and 245 auto parking stalls, making it ideal for e-commerce companies, Gallagher said.
Darla Longo and Barbara Perrier of CBRE represented all parties in the sale. Dan De La Paz, David Consani and Jim Koenig, also of CBRE, will be the leasing brokers for the project.
HPA has been chosen as the architect and Fullmer Construction is the general contractor for the project.
“This new acquisition and the development of LogistiCenterSM at Rialto I is part of the Dermody Properties focus of procuring logistics real estate in key markets across the nation,” said Douglas A. Kiersey, Jr., president of Dermody Properties. “We see great opportunity for our customers in the Inland Empire.”