Serrano Business Park
Jurupa Valley, CA
Property Highlights
- 3 building master planned industrial park in the Inland Empire West submarket totaling 332,000 sq. ft., with building sizes of 33k SF, 118k SF, & 180k SF
- Located minutes from the intersection of the I-15 Freeway and 60 Freeway
- Neighboring Institutional Owners: Western Realco, Majestic, Heitman, Prologis (NYSE:PLD), Goodman, Carlyle Group (NASDAQ:CG), Sares-Regis, First Industrial (NYSE:FR), Alere, GLP
- Neighboring High-Quality Tenants: Black & Decker (NYSE:SWK), FedEx (NYSE:FDX), UPS (NYSE:UPS), The Home Depot (NYSE:HD), 3M (NYSE:MMM), Sears, Nestle, Kmart, Walmart (NYSE:WMT)
Property Information
- CapRock acquired 17.7 acres off-market land in early 2018
- Upon full buildout, there will be three Class-A Industrial Buildings totaling 332,000 SF.
- Variety of building sizes (33k SF, 118k SF, & 180k SF)
- Located in the 2.1%-vacant Inland Empire-West submarket, which is considered to be the most dynamic industrial market in the country
- Approximately two miles east of the I-15 and SR-60 freeway interchange. SR-60 freeway on/off ramps are located in close proximity to the site
- Within 50 miles of Ports of Long Beach/Los Angeles
Business Plan
- CapRock successfully entitled the project prior to closing escrow in early 2018. Those efforts included working with City of Jurupa Valley, Riverside County Flood Control District, and California Department of Fish & Wildlife
- Commence construction of three (3) Class-A industrial buildings immediately upon the close of escrow.
- Strategically subdivided the property into three separate parcels to allow flexibility to either sell buildings to owner-users or lease buildings to high caliber tenants
- Construction completed in Q2 2019
The Results
- Project completed on time and below budget
- CapRock successfully sold all three buildings upon project completion to an international company which will be occupying the entire business park
