Payless Shoe Source to Lease 415,000 SF at California Palms Business Center
05 Dezembro 2006 - 11:00AM
Business Wire
California Palms Business Center is a $102 million, 2.1 million
square foot development jointly owned by Trammell Crow Company
(NYSE:TCC) and ING Clarion Partners. Over 1.8 million square feet
of buildings have already been leased or sold. Construction
completion is expected in the fourth quarter of this year.
California Palms Business Center is one of three industrial
developments totaling 4.3 million square feet currently under
construction in the Inland Empire. Payless Shoe Source, the largest
specialty family footwear retailer in the Western Hemisphere, is
expected to take occupancy in the first quarter of 2007. This new
415,000 square foot facility will be used to warehouse and
distribute shoes and related products. Tom Bak, senior managing
director of TCC, commented that, �We are pleased to be able to
offer Payless a strategic location and�a building that will enable
them�to deliver their goods and services with speed and cost
effectiveness. Building solutions for our customers is our
business." California Palms Business Center consists of 101 acres
in the heart of the Inland Empire East,�just two miles from the
intersection of the 10 and 215 freeways. David Nazaryk, managing
director of TCC, remarked, "we are pleased with the design and
configuration of the project site plan, which provides six
buildings divisible for multi-tenant use that utilize a variety of
cross-dock and front loading�features and range in size from 54,000
to 784,000 square feet.� Listing broker Jim Koenig, first vice
president of CBRE, represented California Palms. Payless Shoe
Source was represented by Dan de la Paz, first vice president of
CBRE Ontario, and Bayne Porter, vice president of CBRE Atlanta.
About ING Clarion ING Clarion Partners, a leading real estate
advisor to US pension funds and international investors has $35.9
billion in total assets under management in the private equity,
public equity and public debt sectors of the real estate markets.
Headquartered in New York, ING Clarion has 700 employees located in
major markets across the United States. The firm is the North
American real estate investment management affiliate of The ING
Group, one of the world�s largest integrated financial services
companies; ING has $695 billion in global assets under management,
including $97 billion in global real estate assets in Continental
Europe, the United Kingdom, North America, Asia and Australia.
About Trammell Crow Company Founded in 1948, Trammell Crow Company
is one of the largest diversified commercial real estate services
companies in the world. The company provides building management,
brokerage, project management, and development and investment
services to both investors in and users of commercial real estate.
In addition to its full service offices located throughout the
United States, the company has offices in Canada, Europe, Asia and
Latin/South America focused on the delivery of real estate services
to user clients. The company delivers brokerage services outside
the United States through strategic alliances with leading
providers - in Europe and Asia, through Savills, plc, a leading
property services company based in the United Kingdom; and in
Canada, through JJ Barnicke, a leading Canadian real estate
services provider. The company delivers building management,
brokerage, and project management services in India through
Trammell Crow Meghraj, India�s leading property services company
jointly owned by the company and certain international partners.
Trammell Crow Company is traded on the New York Stock Exchange
under the ticker symbol �TCC� and is located on the Internet at
www.trammellcrow.com California Palms Business Center is a $102
million, 2.1 million square foot development jointly owned by
Trammell Crow Company (NYSE:TCC) and ING Clarion Partners. Over 1.8
million square feet of buildings have already been leased or sold.
Construction completion is expected in the fourth quarter of this
year. California Palms Business Center is one of three industrial
developments totaling 4.3 million square feet currently under
construction in the Inland Empire. Payless Shoe Source, the largest
specialty family footwear retailer in the Western Hemisphere, is
expected to take occupancy in the first quarter of 2007. This new
415,000 square foot facility will be used to warehouse and
distribute shoes and related products. Tom Bak, senior managing
director of TCC, commented that, "We are pleased to be able to
offer Payless a strategic location and a building that will enable
them to deliver their goods and services with speed and cost
effectiveness. Building solutions for our customers is our
business." California Palms Business Center consists of 101 acres
in the heart of the Inland Empire East, just two miles from the
intersection of the 10 and 215 freeways. David Nazaryk, managing
director of TCC, remarked, "we are pleased with the design and
configuration of the project site plan, which provides six
buildings divisible for multi-tenant use that utilize a variety of
cross-dock and front loading features and range in size from 54,000
to 784,000 square feet." Listing broker Jim Koenig, first vice
president of CBRE, represented California Palms. Payless Shoe
Source was represented by Dan de la Paz, first vice president of
CBRE Ontario, and Bayne Porter, vice president of CBRE Atlanta.
About ING Clarion ING Clarion Partners, a leading real estate
advisor to US pension funds and international investors has $35.9
billion in total assets under management in the private equity,
public equity and public debt sectors of the real estate markets.
Headquartered in New York, ING Clarion has 700 employees located in
major markets across the United States. The firm is the North
American real estate investment management affiliate of The ING
Group, one of the world's largest integrated financial services
companies; ING has $695 billion in global assets under management,
including $97 billion in global real estate assets in Continental
Europe, the United Kingdom, North America, Asia and Australia.
About Trammell Crow Company Founded in 1948, Trammell Crow Company
is one of the largest diversified commercial real estate services
companies in the world. The company provides building management,
brokerage, project management, and development and investment
services to both investors in and users of commercial real estate.
In addition to its full service offices located throughout the
United States, the company has offices in Canada, Europe, Asia and
Latin/South America focused on the delivery of real estate services
to user clients. The company delivers brokerage services outside
the United States through strategic alliances with leading
providers - in Europe and Asia, through Savills, plc, a leading
property services company based in the United Kingdom; and in
Canada, through JJ Barnicke, a leading Canadian real estate
services provider. The company delivers building management,
brokerage, and project management services in India through
Trammell Crow Meghraj, India's leading property services company
jointly owned by the company and certain international partners.
Trammell Crow Company is traded on the New York Stock Exchange
under the ticker symbol "TCC" and is located on the Internet at
www.trammellcrow.com
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