SARES-REGIS Group Sells Land and Planned Chino Distribution Buildings

SARES-REGIS Group Sells Land and Planned Chino Distribution Buildings 
IRVINE, CA -- (Marketwire) -- 02/13/13 --  Land and distribution
buildings totaling 2.1 million square feet that are planned by
SARES-REGIS Group in a prime Southern California logistics hub have
been purchased by Invesco Ltd., which is offering the buildings for
lease. The 125-acre Chino South Logistics Center is the largest
speculative industrial development in the Inland Empire. 
The four warehouse and distribution buildings are slated for
completion by SRG in the second quarter of 2014. They will range from
79,000 square feet to 780,000 square feet. SRG developed the site at
the northeast corner of Euclid and Pine avenues. Terms of the sale
were undisclosed but the Irvine-based real estate company had valued
the completed project at $160 million, said Larry Lukanish, senior
vice president in SRG's Commercial Investment Division.  
"SRG will provide Invesco with completed LEED-certified buildings in
a submarket with a less than 1-percent vacancy rate among Class A
distribution facilities. There is great demand for these buildings.
Chino is the closest big-box destination to the nearby ports of Long
Beach and Los Angeles and is served by three major freeways,"
Lukanish said. 
Representing SRG and Invesco were Darla Longo, Barbara Emmons and
Rebecca Perlmutter-Finkel in CBRE's Los Angeles office and Tom Taylor
and Steve Bellitti in Colliers Seeley's Inland Empire office.  
"This will be the largest speculative project in the Inland Empire
and it is well timed," Emmons said. "With vacancies at an all-time
low and a huge tenant demand for big buildings, the Chino project
will benefit from improving market conditions." 
As a leading western United States real estate developer and manager,
SARES-REGIS Group 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 square feet of
commercial space and more than 14,000 apartments. 
The 20-year-old SARES-REGIS Group is under way on residential and
commercial projects valued at more than $3.3 billion throughout
California. Since its inception, SARES-REGIS Group has acquired or
developed 50 million square feet of commercial properties and 20,000
homes and apartments. The company also is Southern California's
leading privately held developer of LEED-certified apartments and
industrial buildings. 
Contact: 
Art Barrett
714-309-3700
Zoe Solsby
SARES-REGIS Group
949-809-2400
 
 
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