From SoCal Real Estate’s November 2018 issue:
The latest news and developments in construction
Shea Starts 500,000-SF Industrial Build
More modern industrial space is coming to the Santa Ana, California, market. Shea Properties has begun construction on Shea Business Center, a new, state-of-the-art industrial park located on the former ITT site on East Dyer Road and Alton Avenue in Santa Ana, a representative of the firm reports. The property is located just off the 55 Freeway with immediate access to Interstate 5.
In a statement, the source says the property, which Shea recently acquired, will offer approximately 500,000 square feet of class-A industrial space to the Orange County market. The space will comprise nine buildings scheduled for availability to tenants in October 2019. The source also reports that demolition on the ITT site is currently underway, while construction of the nine new buildings will begin later this year.
In the statement, Jon Marchiorlatti, VP of industrial acquisitions and development for Shea Properties, points out that new industrial buildings in the OC market are hard to come by. He adds that Shea Business Center will be geared toward “existing or established businesses looking for a home here in Southern California — or for anyone looking for a last-mile distribution solution.”
The source says that John Griffin and Max Wang of Cushman and Wakefield will handle the leasing for the project.
The statement also reveals that Shea Business Center was designed to accommodate up to six small tenants and up to three large tenants and will have the flexibility to combine buildings for anyone with more significant space requirements. The buildings will feature dock-high and ground-level loading doors, ESFR sprinklers, concrete truck courts, gas service to all buildings, potential private yards, and clear heights of between 28 feet and 30 feet.
In addition, the source reports, the site will feature drought-tolerant landscaping, bicycle racks, enhanced outdoor patio areas, benches and pathways, as well as power for electric vehicles.
On the retail side, as SoCal Real Estate reported in July, Shea Properties made news by signing a variety of new restaurants, retailers, and services at Mercado del Barrio, the mixed-use center in San Diego’s Barrio Logan district.
MXD Project Begun in Downtown Poway
Capexco Inc. has broken ground on Outpost, a three-building, mixed-use development located on a 1.58-acre parcel of infill space at 13247 Poway Road in Poway, a representative for the firm reports.
According to a statement released by the source, Outpost will be “the first development to implement the newly updated Poway Road Specific Plan. Poway City Council and Mayor Steve Vaus approved the $35 million project in March of this year, and completion is expected for fall 2019.”
The rep says the $35 million development is slated to contain 53 residential units, an urban food hall, and a health-and-lifestyle center with modern amenities. Comprising 57,840 square feet of residential space and 40,000 square feet of commercial space, the project is slated to include 43 apartments, four townhomes, four live-work units, and two lofts.
Also planned for Outpost is a wide pedestrian paseo between the buildings, featuring outdoor seating and an upstairs patio above the food hall, the source says.
The statement says the urban food hall will feature as many as 15 artisan food concepts from around San Diego and is attracting interest from 3 Local Brothers Group, a concept co-founded by Poway native Grant Tondro. The company has created The Barrel Room in Rancho Bernardo, Urge Gastropub, Brothers Provisions, Mason Ale Works, and Mason Coffee Works.
The source also reports that Crunch Fitness is eyeing the 20,000-plus-square-foot fitness center that will offer cardio, weights, spin classes, group classes, and childcare.
“Outpost marks an important milestone in Poway’s history that we hope will become a model for revitalization and creating a walkable downtown district for Poway,” says Trent Claughton, president and CEO of Capexco, in the statement.