Covington Group completes first sale of 1msf build-to-suit facility
An affiliate of Covington Group, Inc., a privately-held commercial real estate company focused on industrial investment and development in select U.S. markets, has finalized the sale of approximately 60 acres of vacant industrial land located in the City of Hesperia, Calif., for a build to suit of a 1.055 million square foot facility. The land site is located near Interstate 15 and U.S. Route 395 and is part of a 200-acre industrial project known as Hesperia Commerce Center. The project has been fully developed and entitled by Covington to accommodate 3.4 million square feet plus of state-of-the-art warehouse and distribution buildings, as well as a 15-acre site with visibility on Highway 395 and Interstate 15 slated for smaller service-commercial industrial buildings.
"The Hesperia Commerce Center was thoughtfully designed with attention being given to industrial trends in recent years that show continued demand drivers for buildings larger than 1,000,000 square feet