- New spec development to deliver 87,189 square feet of Class A industrial product to high demand Inland Empire market.
- Property will be offered for lease or sale by Voit Real Estate Services.
RIALTO, California (August 17, 2021) – The Voit Company, an Orange County-based commercial real estate development firm, has announced the groundbreaking of Renaissance Commerce Center, a three-building, 87,189 square-foot ground-up industrial development in the city of Rialto, California. Juan Gutierrez and John Viscounty of Voit Real Estate Services will represent The Voit Company in the lease or sale of the property.
“The industrial sector has performed extraordinarily well over the past 18 months, fueled by e-commerce, 3PL, and a wide variety of expanding logistics uses,” says Gutierrez, a senior vice president with Voit. “As a result, demand for high-quality industrial space in the Inland Empire has soared. Concurrently, trends including expanding online retailing, tight supply in nearby Los Angeles and Orange County and record-breaking volumes at the Ports of Los Angeles and Long Beach indicate that long-term demand will be sustained in the region. Additionally, little to no buildings in this size range are planned in Rialto, making now the perfect time to deliver Class A spec space to the area.”
Gutierrez notes that Voit expects Renaissance Commerce Center to garner interest from both tenants and investors based on its location and development quality.
“The Inland Empire remains one the largest and most in-demand industrial hubs in the country, with more than 57 million square feet of product leased or sold in the last year alone,” says Gutierrez. “This activity is attractive to investors seeking further growth coinciding with the region’s ever-expanding distribution base, and to credit tenants seeking a high-quality environment for streamlined operations.”
The new single-tenant industrial property will comprise three buildings sized respectively at 34,015 square feet, 28,837 square feet and 24,337 square feet. The property will feature a variety of state-of-the-art amenities, including dock high doors, 26’-28’ clear heights, ample parking, and designated office space within each building.
“As one of the newest Class A facilities in the region, Renaissance Commerce Center is strategically located in close proximity to the Western Inland Empire, and will benefit from rising occupancy in that submarket,” says John Viscounty, an associate with Voit. “The western Inland Empire’s industrial availability tightened between Q1 and Q2 2021, with vacancy reaching just 1.47%. These fundamentals directly contribute to the long-term desirability of the property.”
Renaissance Commerce Center will be located at 1993, 2033 and 2133 W. Casmalia Street in Rialto, California. The property is centrally located approximately 13 miles from the Ontario International Airport with close access to the 210, 5, 215, 10 and 60 freeways. The development is planned for completion in Q1 of 2022.
About The Voit Company
The Voit Company focuses solely on the acquisitions and management of commercial real estate, development and redevelopment opportunities in the Southwest. Properties are acquired with private and institutional funding, developed or repositioned, and held for varying periods. Experienced, trusted and successful since 1971, the firm consistently creates value for its projects, as well as for the investors, clients, brokers, cities and partners. The Voit Company currently owns and manages projects in California, Arizona and Hawaii.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its 50-year history, the firm has completed in excess of $53.5 billion in brokerage transactions encompassing more than 51,500 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios. Further information is available at www.voitco.com.
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