IRVINE, Calif., June 2, 2021 /PRNewswire/ — Shopoff Realty Investments (“Shopoff”), a national manager of opportunistic and value-add real estate investments, announced today that the company has successfully broken ground on its I-10 Logistics Center project, located near the Interstate 10 freeway and Cherry Valley Boulevard interchange in the Inland Empire East. The project is a joint venture partnership between Shopoff Realty Investments and Artemis Real Estate Partners.
“Located in the I-10 Corridor, this project will fill a major void in this rapidly developing trade area due to its close proximity to major transportation routes, including direct access off the I-10, the east-west transcontinental highway,” explained Shopoff Realty Investments President and Chief Executive Officer William Shopoff. “With online shopping only becoming more prevalent over the past year, this project should be a fantastic asset in this supply-constrained industrial market, while also bringing thousands of new jobs into the area, further stimulating the economy.”
Jonathan Rainford, senior vice president at Artemis Real Estate Partners, added, “This development will offer prospective tenants a top quality and highly accessible industrial building immediately off of the I-10 freeway, with superior trailer storage options.”
When complete, the I-10 Logistics project will feature more than 1.8 million square feet of space, and is designed to be eligible for LEED Silver certification. Consisting of two industrial high-cube warehouses buildings, building one will cover approximately 811,000 square feet and building two will cover approximately 1,012,760 square feet, for a total of 1,823,760 square feet of floor area. The project will feature 40-foot clear-height ceilings, 300 dock-high roll-up doors, and 519 trailer parking spots.
Shopoff Realty Investment EVP of Real Estate Brian Rupp added, “The I-10 Logistics Center project is a rare opportunity in Southern California to deliver new modern logistics buildings in the million-square-foot range. We look forward to seeing this project come to fruition with an anticipated completion in Summer 2022.”
The project site totals 240 acres, with approximately 155 acres included within the developed portion of the project, and the remaining 85 acres of land will be donated to the Rivers and Lands Conservancy as permanently conserved open space.
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 29-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 29-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.shopoff.com or call (844) 4-SHOPOFF.
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 770, Irvine, CA 92614, (844) 4-SHOPOFF.
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