McShane Construction Co. and Irvine, Calif.-based HPA Inc. were tapped to design and build the 29-acre Cherry Logistics Center according to a Chicago Business Journal article. American Realty Advisors and McShane Development Company have formed a joint venture for the acquisition and development of a premier industrial site located in Newark, California, the heart of the Bay Area's supply-constrained East Bay industrial submarket.
American's Chairman and CEO, Stanley L. Iezman, stated, "We believe the Cherry Logistics Center, when completed, will benefit from robust demand growth over the near- and long-term as the San Francisco Bay Area is the global leader in technology and innovation. Located at the center of the metro area's 7 million people, the property provides easy access to transportation infrastructure including major freeways, bridges, three international airports, and the Port of Oakland. As the existing warehouse inventory is older and inefficient, we expect this state-of-the-art logistics facility to fill the growing needs and requirements for increasingly sophisticated local and regional distributors."
Located at 38811 Cherry Street, the plot for the Cherry Logistics Center will be redeveloped into a state-of-the-art, Class A 575,000 SF cross-dock LEED distribution facility. Cherry Logistics Center is expected to be completed in the fourth quarter of 2013.
For more news and information visit Blumberg Capital Partners.
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