Panattoni's 5 Big Projects
Just how strong is industrial? Also at Gulfstream last week,local Panattoni partnerSteve Batchelleroutlined for us his firm's3M SF under constructioninLA,OC andtheIE: (1) in Santa Fe Springs, a330kSFspec distribution center with partner CalSTRS; (2) in Riverside, also with CalSTRS, a630kSF build-to-suit for World Kitchen; (3) in Rialto, fee-building720kon 28 parcels they assembled and entitled for Boston's TA pension fund;(4) in Rialto, a second TA fee-building, at 370k SF;(5)in Anaheim,900kSF in a JV with Clarion on 120 acres they purchased at a former Boeing campus; the latterwasgoing to be eight office buildings, but industrial's so good, theypivoted.
Steve had just returned the day before from a "Ski Week" trip to DC with his wife and his three kids. He joined with 200 NAIOP reps (he's president-elect of the Inland Empire chapter) to meet with congressmen on issues like transportation, tax, and energy policy, then with family to see the sights like above. Oh, and not just the usual ones, but the President returning to the White House by helicopter after his after his trip to Florida for golf with Tiger Woods, then his motorcade sweeping by after the State of the Union, and one night (perhaps most exciting of all for the kids) a dusting of snow.
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