Fairway Business Park, a $140-million mixed-use development of Majestic Realty Co., is progressing on a City of Industry site north of the Pomona (60) Freeway, between Fairway Drive and Lemon Avenue.
The first phase, valued at $25 million, consists of 750,000 square feet of warehouse, distribution and light-manufacturing facilities and is scheduled for completion next month.
About 20 miles from downtown Los Angeles, Fairway Business Park is situated in a trade area of more than 97,000 residents living within three miles, with an average household income of more than $43,000, according to Majestic.
Ownership representatives on the project have described the park as integrating diverse types of businesses in a range of small to large building clusters, available for build-to-suit or joint-venture opportunities that incorporate generous tenant allowances.
The project will feature site-cast concrete buildings with color accent banding and extensive parking and landscaping.
The initial phase consists of three 100,000-square-foot buildings, a 200,000-square-foot building and a 250,000-square-foot structure for multiple- and single-tenant industrial and commercial use, each with rail service and 24-to-26-foot minimum building clearances, aluminum foil ceilings, fluorescent lighting and flexible office layout.
The property originally was owned by Norris Industries and sold to the City of Industry Redevelopment Agency by the Kenneth Norris Trust. The agency had planned to convert the property into a foreign trade zone site in 1985, but a government commission subsequently awarded the designation to Ontario.
Majestic Realty Co., one of California's largest developers of industrial parks, purchased 200 acres of that land that was put out to public bid.
The firm, one of the pioneers of the industrial park concept during the 1960s, has developed 21 parks in the past five years, totaling 12 million square feet of facilities.
Recent emphasis has been on the design and development of the master-planned business parks that combine a mixture of uses to create a self-sufficient business complex.
Majestic Realty Co. made its first entry into the San Gabriel Valley more than 30 years ago when it structured and handled the sale to Union Pacific Railroad of actor John Wayne's ranch straddling 7th Avenue north of the railroad tracks.