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Article: Going, going, going, gone--all the way to Moreno Valley.(REAL ESTATE QUARTERLY: THE INDUSTRIAL CRUNCH)
- Article from:
- Los Angeles Business Journal
- Article date:
- January 22, 2007
- Author:
CopyrightCOPYRIGHT 2007 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Last year, office supply manufacturer Safco Products was looking to expand its distribution center near the Port of Los Angeles.
Unable to find anything suitable close to their existing facility after a six-month search, the subsidiary of Liberty Diversified Industries settled on a large warehouse far away--on the border of Moreno Valley in Riverside County.
"They wanted 200,000 square feet of Class A industrial space. There was nothing available in the mid-cities area in L.A. County and there was nothing available in the Ontario market," said Mark Kegans, senior vice president with the Ontario office of Grubb & Ellis Co. "So they came clear out to the ...