Newcastle Plans to Develop Spec Industrial on Three Infill Parcels

Newcastle Partners recently announced three land acquisitions in Anaheim, Norco and Corona. The firm plans to develop spec industrial facilities on all three infill parcels in order to meet the ongoing demand for well-located logistics sites that meet the growing demand for last-mile facilities.

Newcastle acquired two acres at 3855 E. La Palma in Anaheim for $6.1 million from the seller, Apaca Inc., to develop a 40,000-square-foot class-A industrial building. The firm will demolish an existing 41,000-square-foot class-B office building that is located on the site. Completion is planned for first quarter 2023.

Newcastle was represented by Rick Ellison and Randy Ellison of Cushman & Wakefield.

Newcastle acquired 4.2 acres at 1004 Parkridge Ave. in Norco for $4.3 million from the seller, First American Exchange Company, to develop five class-A industrial buildings totaling 80,000 square feet. Completion is planned for third quarter 2022.

Newcastle was represented by Richard Schwartz of Colliers.

Newcastle acquired 2.54 acres of undeveloped land at 203 N. Maple St. in Corona for $6.163 million from the Mitzel Family Trust to develop a class-A industrial building of 50,000 square feet. Completion is set for second quarter 2023.

Newcastle was represented by Ryal Lal at Voit Co.