SAN BERNARDINO, Calif. – After several years of acquiring property throughout the Inland Empire to complement its development efforts at its AllianceCalifornia project in San Bernardino, Hillwood is underway on its most aggressive building program yet in the region.
By the end of 2008, Hillwood plans to complete a total of 12 industrial buildings totaling 5.7 million square feet in four different developments in the Inland Empire. The developments include InterChange Business Park, North San Bernardino Industrial Park and AllianceCalifornia in San Bernardino, and Hofer Ranch at Ontario Airport.
Currently 10 of those buildings totaling more than 4.3 million square feet are under construction. These include build-to-suits with long term leases recently signed with FedEx and Michelin.
“With the completion of the Interstate 210 extension and increased imports from Asia arriving at the Southern California ports, this is a perfect time to add space in the Inland Empire,” said John Magness, senior vice president of Hillwood Investment Properties. “Hillwood has close to 1,000 developable acres in Southern California and is aggressively seeking other land opportunities in the area. Our biggest challenge will be finding and recruiting the talent needed as we continue to grow in the area.”
Two of the new buildings are planned for AllianceCalifornia. Gateway South Building 1 will be 969,456 square feet. Gateway South Building 2 will be 480,340 square feet. Both are under construction and located on the south side of Central Avenue just west of Tippecanoe Avenue in San Bernardino.
The 801,581 square-foot build-to-suit for Michelin is part of six buildings totaling more than 2 million square feet that are under construction at InterChange Business Park. The other five buildings range in size from 94,108 square feet to 448,108 square feet. The 144-acre InterChange Business Park is located along the west side of Interstate 215 approximately 2 miles north of the new interchange with Interstate 210 in San Bernardino.
Three buildings are planned for the 125-acre North San Bernardino Business Park, which is located just south of the Interstate 15/215 interchange. The 184,641 square-foot build-to-suit for FedEx is currently under construction. Speculative buildings of 672,958 and 730,000 square feet are slated to be built in 2008.
The 137-acre Hofer Ranch is adjacent to the south side of Ontario International Airport between the UPS and FedEx air cargo hubs. The first building, a 644,856 square-foot distribution center, is under construction.
Hillwood began developing in the Inland Empire in 2000, when it was named master developer of the former Norton Air Force Base. Since that time, 6.4 million square feet have either been built or are under construction and close to 3,000 new jobs have been created at what is now called AllianceCalifornia. The development has attracted facilities for global industry leading companies, including Kohl’s, Mattel, Stater Bros., Pactiv, Medline and Pep Boys.
Hillwood, (www.hillwood.com) a Perot company, is ranked as one of the top commercial real estate developers in the country and the top residential developer in Dallas-Fort Worth. The company’s developments currently house facilities for 85 companies listed on either the Fortune 500, Global 500 or Forbes List of Top Private firms. In addition to AllianceCalifornia, Hillwood is best known for its development of the 17,000-acre AllianceTexas project, located 15 miles northwest of DFW Airport, and the $420-million American Airlines Center and Victory district near downtown Dallas.# # #