North Palisade Partners, a development and investment firm specializing in industrial, industrial outdoor storage (IOS) and self-storage properties, recently acquired a nearly 17-acre site at 1101 California St. in Redlands for $44.5 million. The Inland Empire East property formerly housed a waterpark that closed five years ago and plans call for it to become into a Class A warehouse distribution facility.
Joe Mishurda, founder and Managing Partner of Los Angeles-based North Palisade Partners commented on the acquisition: “Demand for larger blocks of functional industrial space across Southern California remains strong with fierce competition for sites in the Inland Empire area.” He continued “We plan to redevelop this former Splash Kingdom waterpark into an efficient warehouse distribution building to meet demand from various users.”
Hunter Warner of Lee & Associates represented both buyer and seller during the transaction process.
