The O’Donnell Group has broken ground on a 64-acre industrial park in Banning, California. The project is being built on a speculative basis. Once completed, it will offer twelve state-of-the-art industrial buildings totaling over 1.2 million square feet. The centerpiece of the development will be a 786,000 square foot cross-dock distribution building. The LEED certified building will have a 30’ ceiling clearance height, an ESFR sprinkler system, massive truck courts, abundant trailer storage, and freeway visibility.
Douglas O’Donnell, the CEO of the O’Donnell Group, states: “We are very excited about our project in Banning. We feel that our market timing couldn’t be better. Overall vacancy in the greater Los Angeles area is right above 4% and there is nominal new construction on the horizon. There is a limited supply of industrial properties over 500,000 square feet available for lease or sale in the Inland Empire. At the same time, there is very strong user demand.”
The property is located at Ramsey and Hathaway St. in Banning just of the 10 Freeway and near the 60 and 215 Freeways. The property has freeway frontage on the 10 Freeway. It is strategically located to act as a logistics hub for major West Coast distributors. It will provide a perfect logistics base for companies that serve the local ports, Southern California, and the rest of the United States.
Mr O’Donnell went on to further say: “We have developed or acquired over 23,000,000 square feet of investment grade industrial buildings since 1972. We are proud to be working with Westling and Associates, KPRS Construction Company, Hill Pinkert Architects, Stantec, CBRE and all of our development partners. We are elated that this project will create so many domestic jobs in a time when they are truly needed.”
Banning Industrial Park is slated to be ready for tenants in the fall of 2011. David Consani, Jim Koenig , and Darla Longo, of CBRE are representing the listing.
