CHINO, Calif. (September 23, 2021) – Alere Property Group, a leading developer and investor of industrial real estate in Southern California, today announced it is under construction on two new state-of-the-art industrial warehouse complexes in separate locations in Chino, Calif. Combined, the two speculative ground-up development projects will add approximately 626,000 square feet of industrial space to the Inland Empire West submarket. Named Euclid Industrial Park and Chino Commerce Park, the projects will provide a range of product sizes with above-average building characteristics to accommodate a variety of tenants and uses.
“Alere is excited to bring two new highly-efficient and aesthetically appealing warehouse parks to Chino. The city is a sophisticated business-friendly community that is committed to maintaining its integrity and appeal as it positions itself as a critical logistics and distribution hub,” said Clark Neuhoff, chief development officer at Alere Property Group. “Euclid Industrial Park and Chino Commerce Park are the result of strong public and private partnership to design and construct scaled projects that support the varied and local business community.”
Both projects are in highly sought-after locations for distribution and logistics along prominent transportation corridors. Chino is located at the convergence of San Bernardino, Los Angeles and Orange counties, and is approximately 50 miles from the ports of Los Angeles and Long Beach and the Los Angeles International Airport. The city is accessible to a large pool of skilled labor and consumers in the immediate area. According to Daum Commercial, Chino holds approximately 15% of the Inland Empire’s market share for industrial property and had an overall vacancy rate of 1.87% in 2Q 2021.
“Euclid Industrial Park and Chino Commerce Park are created to suit the warehouse and manufacturing needs of expanding corporations that are either based in the Inland Empire West or moving out of the very dense and more expensive coastal infill submarkets,” added Michael Del Santo, senior vice president of portfolio management at Alere. “We are proud to be bringing the city’s vision to life and look forward to an ongoing partnership in delivering and managing quality industrial properties in Chino.”
Euclid Industrial Park
Euclid Industrial Park is a 360,000-square-foot development consisting of eight warehouse buildings ranging in size from 13,050 to 206,118 square feet. At completion, six light industrial buildings will line the front of the project along Euclid Avenue while two larger buildings (206,118 square feet and 49,640 square feet) are positioned in the rear of the site. With a clear height of 36 feet, Building 1 will be just one of a few offerings with this size and specification in the submarket. The smaller buildings are designed to 26-foot clear height.
Euclid Industrial Park is located at the northeast corner of Bickmore Avenue and Euclid Avenue (CA-83), a regional thoroughfare. The site offers efficient access to the Southern California transportation network, the 91, 71 (1.5 miles to), 60, I-15 and I-10 freeways. The property is located across from large-scale industrial warehouses occupied by tenants such as Amazon, FedEx, Walmart, NFI and other large distribution companies.
Alere acquired the 18.6-acre property in an unimproved condition in April 2020 from a long-term land holder with entitlements already in place. Alere broke ground on the project in Q2 2021. Building slabs have been poured and wall tilt-up is planned for October 2021. Completion is slated for August 2022.
Ken Andersen, Eric Fikse and Richard John of Daum Commercial broker represented Alere in the Euclid Industrial Park land transaction and will oversee the project’s leasing.
Chino Commerce Park
At completion, Chino Commerce Park will consist of four buildings totaling approximately 266,348 square feet. The project is anchored by a 210,747-square-foot distribution warehouse with 36-foot clear height and includes three smaller buildings ranging from 15,104 to 25,177 square feet all with 26 clear heights.
Chino Commerce Park is located at the northwest corner of East End Avenue and County Road. Situated at a unique infill location adjacent to the north side of the 60 freeway, the property provides over 1,400 feet of freeway visibility. The project is close to the 71 and 60 freeway interchange and is proximate to the City of Industry and San Gabriel Valley submarket.
Alere acquired the 13-acre infill development site in 2019 in unimproved condition and developed the site per existing zoning that supported small and large industrial use structures. The project’s slabs have been recently poured. Project completion anticipated in May 2022. Offsite improvements include street infrastructure enhancements to County Road.
Tim Pimentel, Chris Tolles, Eric Larson and Robin Dodson of Cushman & Wakefield represented Alere in the Chino Commerce Park land transaction and will oversee the project’s leasing.
Alere is currently in development on five ground-up industrial projects over 1 million square feet in Southern California, including Euclid Industrial Park and Chino Commerce Park. In Q2 2021, the firm announced the commencement of 656 S. Cucamonga Avenue, a Class A 211,000-square-foot speculative industrial warehouse in Ontario. Alere is also underway in the development of 15922 Slover Avenue, a 150,000-square foot speculative warehouse in Fontana.
Alere owns over 20 million square feet of industrial space within the Inland Empire West and East submarkets. The firm targets core and value-add investment opportunities throughout Southern California, in addition to large-scale ground-up development opportunities ranging from 25,000 to over 1 million square feet.
https://alerellc.com/
