Cushman and Wakefield is pleased to present the opportunity to acquire Parkridge Development Location an approximate 4.3 acre development opportunity in Norco, California. Current Owner is in the process of getting a zoning change with the city of Norco.
Ownership is currently working on entitlements and is working with the city to build a 50,000 - 70,000 Sq Ft building to spec for a buyer.? This gives buyers the opportunity to acquire a building to spec at below market rate current sale buildings.?
As one of the last remaining large development sites within the Parkridge development, this site represents an incredibly rare opportunity to develop an industrial project dependent upon city approval.
The Inland Empire is one of the Nation’s most successful industrial markets, boasting a 4Q18 vacancy factor of only 3.8%, down 30 basis points from midyear (vacancy was 4.0-4.1% at the beginning of the year). 118 buildings were constructed in 2018, totaling 27.7 million square feet, with an additional 24.7 million square feet still under construction.
The Property is located in a highly desirable strategic Inland Empire location 0.9 Miles from Highway I-15 and 1.6 Miles from CA-91 and close to the 91, 241 Toll Roads. This provides convenient access throughout Inland Empire as well as quick access to Orange County, Los Angeles and San Diego. The location is 31.4 Miles from John Wayne Airport, 62 Miles from LAX and 13 Miles from Ontario International Airport.
Parkridge Development Center is 49 Miles from the busiest container ports in North America the Port of Long Beach and the Port of Los Angeles which together, handle a fourth of all container cargo traffic in the United States and more then 40% of the nations imports from Asia.