Western Real Estate Business magazine covers the multifamily, retail, office, healthcare, industrial and hospitality sectors in the Western United States.
Issue link: https://westernrealestatebusiness.epubxp.com/i/888015
C A L I F O R N I A & H A WA I I 8 • October 2017 • Western Real Estate Business www.REBusinessOnline.com ROCKEFELLER GROUP COMMENCES CONSTRUCTION ON 2 MSF OF INLAND EMPIRE INDUSTRIAL DEVELOPMENTS SAN BERNARDINO, CALIF. — Rock- efeller Group has commenced con- struction on two industrial projects totaling 2 million square feet in the In- land Empire. The projects include Tri- City Industrial Complex, a 19-acre site at 1333 South Tippecanoe Ave. in San Bernardino, and Optimus Logistics Center, a 68-acre site along the I-215 corridor in Perris. Tri-City will include two speculative industrial distribu- tion buildings totaling 425,535 square feet, while Optimus will feature two speculative buildings totaling about 1.4 million square feet. = The projects are expected to be completed in the third and fourth quarters of 2018. Both developments are being designed by HPA Architects. JLL's Mike McCrary and Peter McWilliams are the exclu- sive leasing agents for Optimus. The project is being built by Fullmer Con- struction. Chuck Belden, Kyle Kehner, Milo Lipson, Tim Pimentel and Ryan Velasquez of Cushman & Wakefield are the exclusive leasing agents for Tri-City. The building is being built by Millie & Severson. IRVINE CO. OPENS 400 SPECTRUM CENTER OFFICE BUILDING IRVINE, CALIF. — Irvine Company has opened 400 Spectrum Center, a new 21-story office tower within the Irvine Spectrum. The tower's sister property, 200 Spectrum Center Drive, debuted a year ago. The newest addi- tion is 40 percent pre-leased. Notable tenants include communications plat- form company SendGrid, cyberse- curity artificial intelligence company Cylance, Kieckhafer Schiffer & Co. and CrossCountry Mortgage. SALEM PARTNERS TO DEVELOP $750 MILLION MIXED-USE PROJECT IN HONOLULU HONOLULU — Salem Partners, a commercial real estate developer based in Los Angeles, is moving for- ward on its $750 million, two-tower project in Honolulu. The Honolulu City Council recently gave Salem Partners approval to build the 450- unit condominium and hotel develop- ment, which is part of Honolulu's Ala Moana Transit Oriented Development Plan. The first development in the plan is Salem Partner's Mana'olana Place project, which is slated to break ground across from the Hawaii Con- vention Center in the second quarter of 2018. A new Mandarin Oriental Hotel will anchor the development. Salem Partners received a special transit permit to build up to 400 feet high instead of the 250 feet previously allowed. The developer has also pro- posed for 78 affordable apartments to be built in collaboration with EAH Housing at the site, which spans 1.42 acres at 1500 Kapiolani Ave. Colora- do-based architect [au] workshop de- signed the two towers, one at 400 feet and the other at 350 feet. The build- ings will be connected via a bridge 35 stories high, and the bridge will feature an infinity edge pool and en- tertainment areas. The ground level of both towers will include retail space and restaurants, as well as gardens and plazas. Recently Salem Partners sold the flagship Walgreens building near the development but retained the adjacent parking structure. The plan is to build five floors of affordable apart- ments atop the parking structure. Sa- lem Partners' two projects will result in more than $1.6 billion in new in- vestments in Honolulu over the next five years, according to the company. A timeline for construction was not given at this time. AMCAL OPENS 660-BED COMMUNITY NEAR CSU, STANISLAUS TURLOCK, CALIF. — AMCAL Eq- uities LLC has opened The Vista, a 660-bed student housing community located near California State Univer- sity, Stanislaus, in Turlock. The prop- erty offers one-, two-, three- and four- bedroom units. Community amenities include a clubhouse with outdoor vol- leyball and basketball courts; a resort- style swimming pool; outdoor televi- sion lounge; theatre; cyber café with free coffee; and 24-hour fitness center. Asset Campus Housing is managing the property. Humphreys & Partners Architects LP designed the communi- ty, and construction was managed by AMCAL General Contractors Inc. Col- eraine Capital Group, AMCAL's joint venture partner, sourced the land and assisted with the entitlement process. Notable tenants at 400 Spectrum Center include SendGrid, Cylance, Kieckhafer Schiffer & Co. and CrossCountry Mortgage.