VICTORVILLE, Calif. — On Tuesday, March 19, 2019, Stirling Development announced its joint venture with Prologis, who will take over as 50 percent capital partner for Stirling Capital Investments.
Together, the two companies plan to continue the build-out of the Southern California Logistics Airport (SCLA) in Victorville, California.
SCLA is an 8,500-acre multimodal freight transportation hub supported by air, ground and rail connections that includes a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development. Stirling will be responsible for
“We are excited to begin our relationship with Prologis and believe their involvement will further enhance our marketability at SCLA. Stirling and Prologis’ commitment to advance build-to-suit developments at the project by strategically customizing opportunities for Prologis’ existing clients as well as manufacturers and distributors will put SCLA ahead of the heightened demand for industrial warehouse space in the Inland Empire market,” said Brian Parno, chief operating officer of Stirling Development.
“Southern California is one of the most dynamic industrial real estate markets in the country given the growth of e-commerce and the limited number of large sites with logistics infrastructure,” said Kim Snyder, president of west region at Prologis. “We are confident that Stirling’s development experience paired with our market presence will result in a flow of attractive institutional-quality logistics assets.”
“We are eager to open this new chapter at SCLA and are excited to partner with Prologis,” said Dougall Agan, president and CEO of Stirling Development. “Several of Prologis’ global customers already lease facilities at SCLA, and this partnership shows their confidence in the future growth of the project. The logistical advantages and low cost of occupancy make the High Desert one of the best distribution locations for major corporations in Southern California.”