Stream Realty Partners has fully entitled its latest industrial projects in California’s booming Inland Empire with plans to develop approximately 117,000 square feet in Rialto.
The Class A industrial facilities at 855 W. Rialto Ave. and 169 S. Spruce Ave. are off Rialto Avenue between Cactus Avenue and Cedar Avenue. 855 W. Rialto will total approximately 47,980 square feet on 2.97 acres, and 169 S. Spruce will have 68,970 square feet on 4.67 acres.
Stream, a national commercial real estate firm offering an integrated platform of services, has a rapidly growing presence in Southern California and will develop, property manage, and lease the new facilities. Scott Sowanick, Managing Director and Partner of Stream’s Industrial Development Services business in the Western Region, will serve as the lead developer, with Senior Director Nicholas Kreuter overseeing construction of the projects. Senior Vice Presidents Brad Yates and Stefan Pastor will lease the properties.
Stream began working on the opportunity in early 2021, closed on both properties in January 2022, and achieved full entitlements for the developments by the fourth quarter of 2022.
855 W. Rialto will feature 32-foot clear heights, eight dock-high doors, one drive-in door, a 160-foot truck court, 58 auto parking stalls, and approximately 5,500 square feet of built-out ground floor and mezzanine office space. 169 S. Spruce will offer 32-foot clear heights, seven dock-high doors, one drive-in door, a 185-foot truck court, 13 trailer positions, 59 auto parking stalls, and approximately 6,000 square feet of built-out ground floor and mezzanine office space. Both facilities will provide future tenants with the modern specifications and amenities the Inland Empire market demands in an area with easy access to Interstates 10, 15, and 215 for travel to Riverside, San Bernardino, Los Angeles, and the Coachella Valley.
“Direct vacancies for buildings above 10,000 square feet continue to remain at all-time lows,” Pastor said. “It is also a unique opportunity to see 32-foot clear heights in more compact industrial buildings like these, making these two properties especially interesting to market in such a growing area.”
Pastor and Yates have proven experience assembling infill land sites for future development opportunities throughout the Inland Empire. According to Yates, “Rialto, especially the area where Stream plans to build, has become increasingly popular as land constraints become more intense in the Inland Empire.”
“The unprecedented demand for the Inland Empire isn’t a new story,” Sowanick said. “With record levels of investment and the continued increase in need for industrial space in Southern California, Stream will continue to strategically expand our industrial presence in the region with well-located projects like 169 S. Spruce and 855 W. Rialto.”
The Spruce Avenue and Rialto Avenue projects are developed and owned by Stream Realty Partners. Bringing over 170 years of combined experience, the Industrial Development Services division at Stream sources and executes development opportunities across a growing platform and offers a full suite of development-related services. Stream’s Investment Management platform leverages expertise from 15 local offices to make investment decisions based on real-time supply and demand fundamentals. Stream actively owns 31 investments of 21 million square feet and approximately $3.1 billion in assets under management.