Transwestern Breaks Ground on Spec Inland Empire Warehouse
Comerica Bank provided the developer with a $17.1 million construction loan for the project.
I-215 Commerce Center. Rendering courtesy of Transwestern
Transwestern has broken ground on I-215 Commerce Center, a 225,185-square-foot industrial property in Colton, Calif. The speculative project is expected to be completed later this year, in October. The developer obtained a $17.1 million construction loan from Comerica Bank, according to Yardi Matrix. Fullmer Construction is the general contractor for the RGI-designed project, while CBRE will oversee leasing efforts.
Located at the corner of East Cooley Drive and Ashley Way, the facility will be roughly 2 miles from the intersection between interstates 10 and 215. Additionally, the property will be 7 miles from San Bernadino International Airport and 17 miles from Ontario International Airport. The building is set to feature 32-foot clear heights, 50-by-52-foot column spacing, an ESFR sprinkler system and 28 dock-high loading doors.
The upcoming property is part of the Inland Empire West submarket, which has an industrial vacancy rate of only 1.9 percent, significantly below the 4.4 percent national average, according to Transwestern. Additionally, the Inland Empire is expected to absorb 42.2 million square feet over the next two years, according to a recent Cushman & Wakefield report.
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