OMP Acquires Land for Spec Development

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Aug 12, 2011, 05:26 ET

LOS ANGELES, Aug. 12, 2011 /PRNewswire/ -- Anticipating continuing demand for industrial and distribution center space and the long-term strengths of the Los Angeles industrial market, Gardena-based Overton Moore Properties (OMP) announced today the purchase of an 18-acre site in Fontana, CA and plans to develop a 454,000 square foot Class A Industrial Building – OMP Fontana Distribution Center.

The single tenant building will feature 32' clear height, 56 dock doors, 82 trailer parking stalls, 200' truck courts and ESFR system. The building has street access to both Elm and Poplar Avenues and is located approximately one 1/2 mile south of the I-10 Freeway. "This is a tremendous land acquisition opportunity in the Inland Empire West market, one of the most active and dynamic markets in the Country," noted Timur Tecimer, President of OMP. "There is strong demand for buildings in excess of 400,000 in the Inland Empire West and OMP plans on breaking ground during the 4th quarter of this year with a completion in June/July of 2012," added Tecimer.

Representing OMP and the Seller, Hanson Roof Tile Company, were Colliers International's Josh Hayes, Tom Taylor and Steven Bellitti. The project will be a joint venture with Chicago based, LaSalle Investment Management. The architect for the project is HPA Architects.

Ranked among the top two real estate developers in Los Angeles County by the Los Angeles Business Journal, Overton Moore Properties (OMP) is a privately held company specializing in real estate development, acquisition, master planning, marketing, asset management, property management, construction management, and financial reporting of industrial, office and mixed-use projects. OMP's long-term franchise value in the Southern California region, local market knowledge, deep relationships with tenants and the brokerage community and strong institutional relationships have contributed to its success throughout the past 35 years. OMP has constructed and acquired more than 34 million square feet of office, industrial, and mixed-use space, developing more than 1,598 acres of raw land throughout Southern California. The firm also owns and manages over 6 million square feet of space in the region.

SOURCE Overton Moore Properties