California + Inland Empire + Industrial | June 7, 2023

North Palisade Acquires Warehouse Development Site in Inland Empire East

North Palisade Partners, a development and investment firm focused on industrial, industrial outdoor storage (IOS) and self-storage properties, acquired a nearly 17-acre site at 1101 California St. in Redlands, within the Inland Empire East submarket, for $44.5 million. The Inland Empire East property formerly housed a waterpark that closed in 2018 and plans call for it to become into a Class A warehouse distribution facility.

“Demand for larger blocks of functional industrial space across Southern California remains strong and competition for sites in the Inland Empire is fierce,” said Joe Mishurda, founder and Managing Partner of Los Angeles-based North Palisade Partners. “We plan to redevelop the former Splash Kingdom waterpark, that was vacated five years ago, into a warehouse distribution building to meet demand from a variety of users.”

Hunter Warner of Lee & Associates represented both the buyer and unnamed seller.

Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints