Shopoff Plans 1M-SF Industrial in Desert Hot Springs

Shopoff Realty Investments said Tuesday it acquired a 55-acre property in Desert Hot Springs, within the Inland Empire East region. Plans call for the development of a 1,061,090-square-foot distribution/warehouse space.

“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 Shopoff president and CEO William Shopoff. “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.”

He added, “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.”

Shopoff anticipates breaking ground in the third quarter, 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, along with Brad Yates and Stefan Pastor of Stream Realty, will handle tenant lease-up.