Ivanhoé Cambridge Adds To $2.5B Investment
Joseph Pimentel, Bisnow Los Angeles
Adding to its $2.5B North American industrial portfolio, Canadian real estate investment giant Ivanhoé Cambridge is entering into a JV with CapRock Partners to develop a $450M, 3M SF industrial business park in the Inland Empire submarket of Ontario, California.
Ivanhoé Cambridge acquired the two-parcel property from CapRock for an undisclosed price, and later tabbed the Newport Beach-based company to develop the project.
The Colony Commerce Center will be composed of 11 Class-A industrial buildings ranging from 600K SF to 1M SF. Construction on Phase 1, a 65-acre site on Carpenter and Remington avenues, will begin later this year. Phase 2, an adjacent 85-acre site, will begin construction sometime in the second quarter of 2019.
Comments are closed