July 15, 2013 16:28 ET

SARES-REGIS Group Plans Major Logistics Center in Moreno Valley; up to 1.6 Million Sq. Ft.

IRVINE, CA--(Marketwired - Jul 15, 2013) - SARES-REGIS Group is planning to develop up to 1.6 million square feet of premium distribution buildings on 72 acres in Moreno Valley, Calif. Company officials say the property is in a prime distribution corridor in the Inland Empire and near the planned SRG Perris Logistics Center.

"We are developing plans and engineering in order to move ahead with construction in the first quarter with completions by late 2014," said Larry Lukanish, senior vice president in SRG's Commercial Investment Division. 

The Moreno Valley property is on Grove View Road off Perris Boulevard, near the Harley Knox Boulevard exit from I-215. The area is near the former March Air Force Base and regional logistics centers for major consumer brands and retailers that include Whirlpool, Hanesbrands Inc., Home Depot, Lowe's and Ross. The area is within 70 miles of the ports of Los Angeles and Long Beach.

He said the property is the largest approved distribution site in the Inland Empire. It also is near the SRG Perris Logistics Center, which is being developed with a 580,000-square-foot distribution building, Lukanish said. The Perris and Moreno Valley buildings will be built to LEED specifications.

SRG won city approvals to develop the site while it was completing due diligence for its recent acquisition from a private investor. Brokers Joe McKay and Mike Wolfe in Lee & Associates' Ontario office represented SRG and the seller in the transaction.

As a leading western United States real estate developer and property manager, SARES-REGIS Group has developed or acquired approximately 40,000,000 square feet of industrial/commercial properties worth $3 billion since 1994 primarily in California. SARES-REGIS Group manages approximately 20,000,000 square feet of commercial properties for its partners and investor clients. SARES-REGIS Group is also California's leading privately held developer of LEED-certified buildings.

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