(PRWEB) June 18, 2013
SARES•REGIS Group plans the development of the SRG Perris Logistics Center, a 580,000-square-foot distribution building near the former March Air Force Base in Perris, Calif.
Larry Lukanish, senior vice president in SRG's Commercial Investment Division, said construction of a Class A distribution building would begin this summer on the 28.8-acre project, which is valued at $40 million. Completion is slated for the end of the year, he said, adding that the building will built to LEED specifications.
The development at 3900 Indian Avenue is in a prime distribution corridor populated by major consumer brands and retailers that include Whirlpool, Hanesbrands Inc., Home Depot, Lowe's and Ross. The area is within 70 miles of the ports of Los Angeles and Long Beach.
The SRG Perris Logistics Center is being marketed by Colliers International's Thomas Taylor, Steve Bellitti and Summer Colter. The Collier's team also represented seller Ridge Realty and SRG in the land acquisition.
As a leading western United States real estate developer and manager, SRG along with its partners and investor clients own commercial and residential assets valued at more than $4 billion. The company's management portfolio consists of 15 million sq. ft. of commercial space and more than 14,000 apartments.
Now in its 20th year, SRG is under way on commercial and residential projects valued at more than $3.3 billion throughout California. Since its inception, the company has acquired or developed 50 million sq. ft. feet of commercial properties and 20,000 homes and apartments.