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Tuesday, April 23, 2019
Career & Workplace

Bridge Development Partners Announces Acquisition of Scandia Fun Center in Ontario, CA

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Bridge to build speculative industrial development at the site—to be called Bridge Point Ontario, marking the company’s first project in Ontario and latest in the Inland Empire West submarket, adding to Bridge’s 8.5 million square foot California development pipeline

Ontario, CA (April 8, 2019) – Bridge Development Partners, LLC announced that it has acquired 1155 South Wanamaker Avenue—the former Scandia Fun Center—in Ontario, California. Following demolition, Bridge plans to construct two speculative industrial buildings, totaling 268,714 square feet on the 11.9-acre site.

Sitting on the southern parcel of the site, Building A is 178,462 square feet and will have a 32-foot clear height, a 155’ truck court, and 10,000 square feet of office space, which includes 5,000 square feet of mezzanine space. It will also house 23 exterior docks, six striped trailer positions, and parking for 99 automobiles. Building B is situated on the northern parcel, is 90,252 square feet, and will also feature a 32-foot clear height. It will contain a 137’ truck court, 8,000 square feet of office space (including 4,000 square feet of mezzanine space), 11 exterior docks, three striped trailer positions, and parking for 56 cars. Both buildings will be equipped with ESFR sprinkler systems.

“The Bridge Point Ontario acquisition marks the launch of Bridge’s next wave of Inland Empire development. This project adds to our 8.5 million square foot California development pipeline which encompasses assets in Los Angeles and Orange Counties, the Inland Empire, and the Bay Area,” said Greg Woolway, Vice President of Acquisitions in Bridge’s California office.

“The City of Ontario has been very welcoming. Its business-friendly climate makes this the ideal location to continue to grow Bridge’s presence in the region, and we look forward to delivering this ideally-located, state-of-the-art distribution center to the heart of the Inland Empire,” said Woolway.

Bridge Point Ontario is strategically located with Wannamaker Avenue to its west and I-15 Freeway to its east, along which it enjoys 1,200 feet of frontage. It’s also located one mile south of the I-15 and I-10 four-way interchange, offering proximity to SR-60. The site is bordered by industrial buildings to its north, west, and south, and the amenities Bridge is bringing to its new development will reflect those of the other existing Class A modern distribution facilities in the Inland Empire West submarket. The expected delivery date of Bridge Point Ontario is Q2 2020.

The transaction was brokered by Nicholas Chang, Senior Vice President of NAI Capital.

 

About Bridge Development Partners
Bridge Development Partners, LLC (www.bridgedev.com) is a privately-owned firm that focuses on the acquisition and development of Class A industrial real estate in the supply constrained core industrial markets of Chicago, South Florida, Northern New Jersey, Southern California, the Bay Area, and Seattle. Since its inception in 2000, Bridge has successfully acquired and developed more than 33 million square feet of industrial buildings/projects valued at more than $5.2 billion. Currently, Bridge has a strategic joint venture with investment partnerships managed by Banner Oak Capital Partners, L.P., a Dallas-based investment advisor.

Inland Empire Business Journal
The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering Riverside and San Bernardino Counties.