Carson Cos. Plans 1M SF

RANCHO DOMINGUEZ, CA-The Carson Cos. plans to build about one million sf of new class A industrial buildings in 2004, including a 549,195-sf warehouse-distribution facility in its Chino South Business Center in Chino. Company officials say their plans for 2004 also include buildings of 209,000 sf and 235,000 sf at the Dominguez Technology Center in Carson, where the private real estate investment trust already has three new warehouse-distribution buildings totaling 532,000 sf under construction.

The development plans are based upon what the company foresees as “strong demand for class A industrial buildings in Southern California’s key distribution hubs” that will continue this year, says James Flynn, president of the Carson Cos. Although Flynn describes the regional industrial real estate market as challenging at best, he says the firm has enjoyed solid demand for industrial buildings.

Construction of the new Chino South Business Park building, the largest ever built by the Carson Cos., is expected to start in early 2004 and be ready for occupancy later in the year, according to Matt Vanderhorst, SVP at Carson.

In the Dominguez Technology Center, one of the three class A industrial buildings now under construction, will be home to Cosmi Software, which is scheduled to move into the 95,000-sf building in February. Two other tenants in the Center, office furniture maker FDL Inc. and logistics company Mitsui-Soko USA Inc., are expanding into new buildings at the center. FDL has leased an additional 48,000 sf, and Mitsui-Soko has leased 127,000 sf, leaving approximately 262,000 sf of available space in the new buildings, which will be ready for occupancy in February.

The Carson Cos. portfolio totals about 7.1 million sf of class A industrial buildings in major distribution hubs throughout Southern California. The company is the majority owner of the 438-acre Dominguez Technology Center, and is developing the 105-acre Chino South Business Park in joint venture with Connecticut General Life Insurance Co.