Stream Realty Partners, a national real estate development, services, and investment firm, has announced an industrial project in Fontana.
Stream will develop a 160,000-square-foot property for Cabot Properties, a private equity real estate investment firm located in Boston, that recently closed on more than 7.5 acres.
“We’re pleased to complete the purchase of the land assemblage and move onto the entitlement phase,” said Justin Harvey, senior vice president of investments for Cabot Properties. “This will be a high-quality property with excellent access and best-in-class features. There is a lot of demand in the market for this product type and we believe it will be an attractive option for a wide range of occupiers.”
This is Stream's first project in the Inland Empire.
The development is located within Fontana’s Southwest Industrial Park (SWIP), two blocks south of Interstate 10 at the corner of Santa Ana Avenue and Banana Avenue. Once complete, the facility will provide users with ingress/egress optionality, efficiency, functionality, and a prime geographic location within the western area of the Inland Empire, Harvey said.
“Expanding our industrial development platform into the Inland Empire is a high priority of Stream’s,” said J. Cannon Green, managing director and partner for Stream’s industrial team. “Our approach to entering this market has been intentionally patient, methodical, and focused on finding the right initial opportunity. We could not be more excited to see this first project come to fruition in Fontana, and we look forward to developing in the I.E. for many years to come.”
Josh Hayes of CBRE and Tom Taylor of Colliers International will oversee the leasing of the project. Albert Jarrell and Steve Riordan of Stream’s Construction Division will supervise construction. Additional partners include RGA, Office of Architectural Design, Inc., Thienes Engineering, Inc., and LDC Industrial Realty, LLC.