Shopoff Acquires 55 Acres in Inland Empire, Calif., for Industrial Development

Shopoff Realty Investments, a national manager of opportunistic real estate investments and a sponsor of private placement offerings, has acquired a 55-acre property in the Inland Empire East region of California, with plans to develop a 1 million-square-foot distribution/warehouse space.

With good visibility and direct access to major trade route Interstate 10, the property is well-situated for logistics operations connecting the Southern California ports to the West region.

“Considering last year’s sale of our I-10 Logistics Center in Cherry Valley, it’s safe to say we are bullish on industrial, and specifically projects on the I-10 corridor,” said William Shopoff, president and chief executive officer. “This Desert Hot Springs project represents a rare opportunity to acquire a property that is already entitled and ready for development, in an area with significant demand from e-commerce companies for logistics and warehouse space.”

Upon completion, the project will total 167 docks, 498 trailer stalls, and have 42-foot clear height.

“With neighbors such as Amazon and FedEx, this location has the potential to provide a great investment for many years to come and will offer third-party logistics companies significant drayage savings compared to projects in Arizona and Las Vegas,” added Shopoff.

Shopoff noted that the project will operate independently. While the presence of Amazon and FedEx provides context to the environment, it will not determine the outcome of the project.

Shopoff anticipates breaking ground in the third quarter of 2024, with the project taking approximately 12 months to complete. The firm will begin marketing the projects to tenants prior to project completion. Ian DeVries and Chris DeVries of Colliers International along with Brad Yates and Stefan Pastor of Stream Realty will handle tenant lease up.

Earlier this year, Shopoff promoted Christy Hutchison to senior vice president, national accounts. Hutchison joined Shopoff in 2017 as a national accounts manager and was later promoted to director of national accounts.

Shopoff Realty Investments is an Irvine, Calif.-based real estate firm with a 32-year history of generating appreciation through development projects, the repositioning of commercial income-producing properties, and the entitlement of land assets.

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