Newcastle Partners Acquires 13 Acres for 260,000-SF Speculative Industrial Project at Meridian Business Park in Riverside, CA

Opportunity Way within Meridian business Park
 Riverside, CA

 SAN FRANCISCO, Calif., September 12, 2014 – Newcastle Partners, Inc., a San Francisco-based real estate investment and development company, has acquired 13 acres of land for industrial development.

The site is located at Opportunity Way within Meridian Business Park, a 1,290-acre master-planned commerce center in Riverside, a city within the Inland Empire region of Southern California. 

With this latest acquisition, Newcastle Partners’ development activity within the park now totals 1.37 million square feet on 66 acres of land.

Phil Lombardo

“The Inland Empire continues to set records for industrial absorption. The impact of e-commerce and increasing Port of Los Angeles traffic are some of the drivers pushing major corporations to continue aggressive expansion into the region. 

"This ongoing level of activity is driving our focus on speculative development as the market doesn’t seem to have enough space to meet demand,” said Jackson Smith, who heads Southern California operations for Newcastle Partners.

 “We’ve already had great interest in Meridian Distribution Center as the region provides all the strategic advantages that corporate users want today.”

Dennis Higgs, Newcastle Partners’ Managing Partner and Founder, observed that corporate users prefer locating near other high profile users. 

“The quality of Meridian Business Park and its amenities rivals all other state-of-the-art product throughout the Inland Empire region. The visibility, access to the freeway system and ports, and quality of its tenant base is unsurpassed. Kia Motors, McLane Foodservice, Sysco Foods, and the University of California at Riverside all have located here for these reasons.”

Chuck Beldon

Phil Lombardo and Chuck Belden with Cushman & Wakefield represented Newcastle on the land acquisition, as well as the seller of the land, LNR Riverside Holdings, LLC. Lombardo and Beldon are also responsible for leasing of the facility in addition to Newcastle’s Phases 1 and 2 at Meridian Distribution Center.

 Founded in 1999, Newcastle Partners, Inc. is a real estate investor and developer focused on industrial, office and business park properties in California. Newcastle Partners has offices in Irvine and San Francisco, California, and currently owns or has recently developed more than $728 million of properties. 

Visit Newcastle Partners at www.newcastlepartners.com.

For a complete copy of the company’s news release, please contact:

Darcie Giacchetto

Spaulding Thompson & Associates

949.278.6224