Lovett Industrial, a Houston-based real estate investment firm, has acquired 13 acres within the Highland submarket of the Inland Empire East to develop a single 285,000-square-foot rear-load class A industrial building. It will be Lovett Industrial’s first project in Southern California.
“The Inland Empire is the most sought-after, highest barrier to entry industrial market in the country, and we are thrilled to announce our first of many projects here,” said Ted Hart, senior managing director of Lovett Industrial. “Tenant demand shows no sign of relenting, and we are actively targeting more opportunities across Southern California due to record low vacancy rates and supply–demand dynamics that have led to the highest rent growth in the nation.”
Located within The City of Highland, the 13-acre site offers access to Interstates Interstates 10, 210 and 215. The Inland Empire is one of the strongest industrial markets in the United States with market vacancy at 0.20% in Q2 2022 per CBRE’s latest quarterly market report.
The project’s entitlement efforts are underway, and construction is set to commence in Q4 2023. Upon completion, the project will feature key building specifications designed to appeal to an extensive number of users. The approximately development will feature 36-foot clear heights, a 310-foot building depth, 47 trailer stalls and 193 auto parking spaces.
Marketing and leasing efforts for the project will be handled by Austin Hill, Tyler Plata, and Holden Edmondson at Lee & Associates Ontario. HPA will be the lead architect and Thienes Engineering will serve as the projects civil engineer.
