Shopoff Realty Investments, a manager of opportunistic and value-add real estate investments, has broken ground on its I-10 Logistics Center project, located in Southern California’s Inland Empire. The project, which is slated for completion in Summer 2022, is a joint venture partnership between Shopoff Realty Investments and Artemis Real Estate Partners.
When complete, the I-10 Logistics project will include more than 1.8 million square feet of space, consisting of two industrial high-cube warehouses buildings. Building one will cover approximately 811,000 square feet, and building two will cover approximately 1 million square feet. The project will have 40-foot clear-height ceilings, 300 dock-high roll-up doors, and 519 trailer parking spots, and is designed to be eligible for LEED Silver certification.
“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,” said William Shopoff, president and chief executive officer. “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.”
The project site totals 240 acres, with approximately 155 acres included within the developed portion of the project, and the remaining 85 acres will be donated to the Rivers and Lands Conservancy as permanently conserved open space.
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 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).