Riverside, Calif. (PRWEB) January 8, 2007
Omni West Group Inc., a real estate development and property management firm based in Laguna Hills, Calif., has commenced construction on a 50,125-square-foot industrial complex in Riverside, Calif.
The 2.5-acre project - called Rivera Business Park - is located at Rivera near North Main Street and will feature four buildings comprised of eight units ranging in size from 5,220 to 6,246 square feet.
"Small-box industrial buildings are in short supply throughout the Inland Empire, where vacancy rates continue to hover around five percent," said Kip Dubbs, president and CEO of Omni West Group. "For companies that require facilities on a smaller scale, there aren't a lot of choices right now. Plus, they need the same logistical amenities as big-box users, which makes this project particularly attractive. It's freeway close with proximity to three major freeways, including the 60, I-10 and I-215, so it's perfectly suited to accommodate smaller operations in the Inland Empire's growing manufacturing, trucking and warehousing sectors."
According to Art Day, senior vice president of CB Richard Ellis, the sales/leasing agent of the property, local and coastal companies continue to look for opportunities to expand their operations in projects such as Rivera Business Park
"There is a great deal of construction underway in the Inland Empire, but the majority of projects feature buildings that are 100,000 square feet or greater," said Day. "While this is attractive for large distributors and logistics firms, it isn't practical or economically feasible for smaller operations. Rivera Business Park will offer small-box users all the same advantages as big-box users, including a state-of-the-art facility with access to a sizable labor pool, an advanced communications network and highway infrastructure."
The project is slated for completion in the third quarter of 2007. Brea, Calif.-based HMC Construction is the general contractor of the project.
Omni West Group is a privately held commercial real estate firm specializing in retail, office and industrial business parks in Southern California. The company partners with city planners and other government officials to enhance the quality of life in local communities. Omni West Group's real estate expertise includes land acquisitions and development, asset and investment management, entitlement, property management and construction management. For more information, visit http://www.omniwestgroup.com, e-mail firstname.lastname@example.org or call (949) 215-9790.