Newcastle Partners has broken ground on a 406,138-square-foot Class A, speculative industrial development in Hesperia, Calif.
The project’s delivery is expected in the second quarter of next year, and the building is currently available for sale or lease. Voit Real Estate Services handles all marketing, sales and leasing efforts for the property.
Commercial Property Executive reported in March that Newcastle Partners had secured $27.5 million in construction financing for their project, dubbed Mesa Linda Logistics Center. A JLL Capital Markets team led by Senior Managing Director Greg Brown, Director Samuel Godfrey and Associate Allie Black arranged the floating-rate, non-recourse loan through a bank.
The approximately 18.26-acre site at 9260 Mesa Linda St. provides immediate access to I-15 (the Barstow/Mojave Freeway), which the developers note makes the property ideal for a buyer or tenant looking for a logistics or distribution hub in the region. This is particularly so, Voit asserts, given Amazon’s commitment to Hesperia.
READ ALSO: Industrial Vacancy Climbs, Development Holds and Pricing Adjusts
The e-tailer is underway on a 2.5 million-square-foot “middle mile” distribution facility on Phelan Road in Hesperia, according to a local newspaper report. That building reportedly will deliver in late 2026.
As of March, Mesa Linda Logistics Center was to feature 36-foot clear heights, 54 dock-high doors, 57 trailer parking stalls, 215 trailer parking spaces, ESFR sprinklers and 12,000 square feet of office and mezzanine space.
The Voit brokerage team handling the project’s marketing, sales and leasing activities is being led by Ryan Lal, senior vice president, and Dante Borruso, vice president, both of Voit’s Ontario office.
A bit of wilting in the desert
The industrial space market in the Inland Empire saw overall vacancy rise to 6.0 percent in the second quarter, alongside a 12.3 percent total availability, according to a recent report from Kidder Mathews.
One result has been more caution by developers, and another has been lower rents, which currently average $1.04 as a direct asking rate.
“Despite softer e-commerce growth, demand remains for specialized spaces such as cold storage and last-mile logistics,” Kidder Mathews reported. “High-efficiency buildings are leasing well, while older, less adaptable facilities face pressure.”
