Speaker at Business Conference.

Land Values Will Continue to Rise in the Inland Empire

According to GlobeSt.com, February 4, 2015, as the drive for development in the Inland Empire ramps up, land prices are heading north and developers are becoming more sophisticated with the capital stack, said speakers at RealShare Inland Empire. The panelists were asked what areas exist for new development opportunities in the Inland Empire. Rob Guthrie, CEO and founder of Guthrie Development Co., said for his firm the Inland Empire is “infill, infill, infill.” His firm does small condo conversions from leftover sites for industrial users, selling mostly to Asian-owned businesses that are in the importing side of things. Tom Bak, senior managing director of Trammell Crow Co., said that land in Orange County runs $30 to $35 per square foot, while in Corona, it’s $20 to $25 per square foot. “You need to go farther out for cheaper land. Without e-commerce, we wouldn’t be driven.

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