Shea Properties Expands Industrial Portfolio in Southern California
New project in Huntington Beach and an expansion in Ontario adds more than 270,000 square feet of Class A Industrial space
March 13, 2014 (Newswire.com) - Shea Properties recently announced the expansion of its industrial portfolio with a new project in Huntington Beach and an expansion of an existing project in Ontario, adding a total of ±270,000 square feet to its portfolio. The projects both began construction last month and will be available for occupancy later this year.
"Shea Properties is thrilled to expand its industrial portfolio with the new construction of Shea Center Huntington Beach and the expansion of Shea Center Ontario," said Jon Marchiorlatti, Vice President Industrial Acquisitions & Development of Shea Properties. "Growing in this region allows us to create a balanced portfolio of office, industrial, retail and multi-family assets."
Shea Center Huntington Beach is a two building state-of-the-art industrial center (17322 & 17332 Gothard Street), formerly the Randall Lumber site, totaling ±144,750 square feet. The buildings, approximately 50,200 square feet and 94,500 square feet, will be constructed to CALGreen standards, with both buildings offering multiple dock-high and ground-level loading doors, 30' to 32' clearance, ESFR sprinklers and fenceable yards. CBRE brokers Bob Goodmanson and Chris Bates are handling the leasing in Huntington Beach.
Shea Center Ontario is expanding the building located at 5400 Shea Center Drive by adding on ±124,250 square feet. The new addition will add multiple dock-high doors, offer ESFR sprinklers, 30' clearance, and freeway frontage. The growing 1.65 million square foot project is situated along Interstate 10 in the city of Ontario. Frank Ceraci and Walt Chenoweth of Voit Commercial are handling the leasing at Shea Center Ontario.
For more information on Shea Properties, visit www.sheaproperties.com.
About Shea Properties
Shea Properties, headquartered in Aliso Viejo, California, is a diversified real estate company responsible for the acquisition, design, development, construction and management of business parks, shopping centers, apartment communities and mixed-use environments. Since beginning operations in 1969, annual revenues have grown steadily to more than $200 million, while the overall value of the portfolio has grown to more than $2.4 billion. Shea Properties owns and operates approximately 6,300 apartment units and 5.2 million square feet of office, industrial and retail space in California and Colorado. Currently, Shea Properties has nearly $1.1 billion in development projects underway.
Categories: Real Estate