Lovett Industrial, the Houston-based real estate investment firm, has obtained entitlement for a 298,000-square-foot industrial facility on 13.52 acres in the Inland Empire West submarket of Chino, California.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240709598803/en/
Schaefer Logistics rendering (Photo: Business Wire)
Schaefer Logistics Center, located at 13610 Yorba Avenue, will include a 36-foot clear height, 7-inch concrete slab, 46 dock-high doors, a 195-foot-6-inch truck court, and 56 trailer stalls. Construction is expected to commence in Q4 of 2024 and be completed by the end of 2025.
This center will bring newly constructed infrastructure, including road widening on Yorba Avenue and Schaefer Avenue, new and modified traffic signals, bike lanes, sidewalks, and municipal utility improvements. It offers excellent proximity to a strong labor force, a central location with the ability to reach the larger population of Southern California and make multiple daily trips to and from the Port of Los Angeles and Long Beach.
“We identified this opportunity as the last developable parcel closest to the port in the Inland Empire making it a strategic investment in a market with strong long-term fundamentals,” said Tyler Banton, California Market Leader with Lovett Industrial. “Southern California is the largest US logistics market and a true regional distribution hub, and we feel that Chino is the best regional location in the greater Southern California area for local, regional, and national distribution requirements. Chino has a wonderful, business-friendly environment, and the location checks every box a major distributor would have in terms of access, infrastructure, proximity to the port, and availability of labor. We are fortunate to be able to partner with the City of Chino on this exciting project.”
“Lovett Industrial was selected as the successful bidder for the former George F. Putnam estate in a prime South Chino location,” said Clyde Stauff, Vice Chair of Colliers’ Irvine office. “Lovett facilitated a seamless process in the acquisition of the property and navigated through the complex entitlement of the property for a single-building distribution center. The Schaefer Logistics Center has been carefully designed to include every state-of-the-art functional feature needed to meet the requirements for today’s sophisticated warehouse and distribution tenancies. We look forward to the project's completion in the fourth quarter of 2025.”
Marketing and leasing efforts for Schaefer Logistics Center will be exclusively handled by Clyde Stauff and Jace Gan of Colliers.
About Lovett Industrial:
Founded in 2020 and based in Houston, Texas, Lovett Industrial is a privately held vertically integrated logistics real estate investment platform that seeks to develop and acquire industrial real estate assets that are differentiated by their quality, location, and functionality. Currently active in over 15 markets across the United States, Lovett Industrial’s portfolio comprises approximately 16 million square feet of completed, acquired, and under-construction warehouses and over 10 million square feet of warehouses planned for future development. Lovett Industrial’s founders have combined over 60+ years of experience in the commercial and industrial real estate sectors. For more information, please see our website at https://lovettindustrial.com/.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240709598803/en/
Contacts
Lily Aguilar
Liliana.aguilar@lovettindustrial.com
