Yet another Iddo Benzeevi MEGA warehouse coming to East Moreno Valley

Posted in the Moreno Valley Forum

Comments
1 - 12 of 12 Comments Last updated Jul 2, 2011

Since: Oct 09

SoCal

#1 Apr 28, 2011
Another HUGE warehouse coming. 937,260 sq foot warehouse on 55 acres. Near Skechers. Owned by Ridge Rancho Belago, LLC.(REALLY owned by Skechers developer Iddo Benzeevi. The flood gates have been opened!

Iddo Benzeevi is already asking for special treatment (again) asking for a change from Business Park to Light Industrial. See Press Enterprise, April 28, 2011, page L1, bottom left of page.

http://ci.moreno-valley.ca.us/misc/pdf/Append...

Ridge Rancho Belago, LLC, c/o Ridge Property Trust II, 201 Covina Avenue, Suite 8, Long Beach, CA 90803, Dennis Rice, President,

Check: http://www.rptrust.com/

Oddly enough the web reports that Ridge Property Trust is seeking buyers for its 7.8 million square-foot industrial property portfolio!(Mar 2, 2011 article).

Since: Oct 09

SoCal

#2 Apr 28, 2011
CORRECTION: See Press Enterprise, April 28, 2011, page L1, bottom RIGHT of page.

"In the race for District 2, incumbent Richard Stewart has received $33,267 for this period in financial support.... Other support for Stewart:$370 from Ridge Rancho Belago LLC and Ridge Moreno Valley LCC, both owned by Skechers developer Iddo Benzeevi;"

http://www.pe.com/localnews/stories/PE_News_L...

“Citizens first.”

Since: Oct 08

Moreno Valley

#3 Apr 28, 2011
VigilantOne wrote:
CORRECTION: See Press Enterprise, April 28, 2011, page L1, bottom RIGHT of page.
"In the race for District 2, incumbent Richard Stewart has received $33,267 for this period in financial support.... Other support for Stewart:$370 from Ridge Rancho Belago LLC and Ridge Moreno Valley LCC, both owned by Skechers developer Iddo Benzeevi;"
http://www.pe.com/localnews/stories/PE_News_L...
Laurie Lucas, may want to recheck her statements in that article. Ridge Property Trust the parent corporation of both Ridge Ranch Belago and Ridge Moreno Valley, was formed and owned by James G. Martell, and is based in Chicago IL., with district offices in Texas and Southern California.

The Southern California office is ran by Dennis Rice, and is based in Long Beach. They had plans of building in the east end, however Highland Fairview paved the way for that to be possible, but in now way are they or Iddo Benzeevi the owners of Ridge as Laurie Lucas claimed.

Since: Oct 09

SoCal

#4 Apr 28, 2011
Thanx for the info. Why would Skechers developer Iddo Benzeevi, who begged the City for warehouse status just a couple of years ago, now be sniveling for yet another special exemption/change from Business Park zoning to Light Industrial?

I see MoVal City will be extending Nason St. south from Cactus thru Benzeevi's stalled Aqua Bella housing project to Iris, giving up the huge, planned community center & lakes.

I'd guess a city paid & built road thru his landlocked Aqua Bella property would increase the value of that raw land.
Guest

Moreno Valley, CA

#5 Apr 29, 2011
mvgordie wrote:
<quoted text>
Laurie Lucas, may want to recheck her statements in that article. Ridge Property Trust the parent corporation of both Ridge Ranch Belago and Ridge Moreno Valley, was formed and owned by James G. Martell, and is based in Chicago IL., with district offices in Texas and Southern California.
The Southern California office is ran by Dennis Rice, and is based in Long Beach. They had plans of building in the east end, however Highland Fairview paved the way for that to be possible, but in now way are they or Iddo Benzeevi the owners of Ridge as Laurie Lucas claimed.
Lucas is known for mixing it all up and if you notice it is all part of the show. Her Facebook talks about how she is twisting MV, she enjoys making her own story up. She is NO reporter. Lets get her out of MV.
Dosha

Moreno Valley, CA

#6 Apr 29, 2011
Guest wrote:
<quoted text>
Lucas is known for mixing it all up and if you notice it is all part of the show. Her Facebook talks about how she is twisting MV, she enjoys making her own story up. She is NO reporter. Lets get her out of MV.
I agree with you 100%. This pseudo reporter, who seems to be very lazy and has a great desire to be liked by the "right" people and who sits meeting after meeting with Ido and his cronies should be fired. She is better suited working for the weekly shopping papers.
KatInPocket

La Quinta, CA

#7 Jun 9, 2011
Iddo and his herd turned out against this project! Funny how he didn't like the architure and it is the same firm that designed his concrete box!!! Seriously.
KatInPocket

La Quinta, CA

#8 Jun 9, 2011
VigilantOne wrote:
Thanx for the info. Why would Skechers developer Iddo Benzeevi, who begged the City for warehouse status just a couple of years ago, now be sniveling for yet another special exemption/change from Business Park zoning to Light Industrial?
He is against Ridge's project and wants demands put on it that he got out of for skechers.

Since: Oct 09

SoCal

#9 Jun 9, 2011
Stay tuned. Also PE reports plans for a 1.3 mill. sq ft warehouse in the REAL warehouse district near March ARB.

Since: Oct 09

SoCal

#10 Jul 1, 2011
I'd like to know employee count for USA and then quantity of employees in California... and quantity at their Ontario warehouses. Thanx
Their "employee count" that they show is global... every tribal member in Tibet, families in China, sales reps in India... what is the US count?
Also the MOST RECENT revised OPENING DATE for their shiny new Distribution Center.(Still NO jobs being recruited for the site).

“Citizens first.”

Since: Oct 08

Moreno Valley

#11 Jul 2, 2011
As of their last SEC Filings, they had a grand total of 5,440 full time employees (that would include executive staff as well). This number includes 105 concept stores, 99 factory outlet stores, and 40 warehouse outlet stores in the United States, as well as 28 concept stores and 16 factory outlets internationally.

As stated by Skechers approximately 900 employees are located in Ontario, California. As for the United States in general those numbers are in the area of 2,517.

Just for thought, at the present time Skechers operating cash flow (ttm) is:-73.77 Million, with a Levered Free Cash Flow (ttm) of:-202.27Million. Their quarterly earnings growth was -79.00%.

Since: Oct 09

SoCal

#12 Jul 2, 2011
Oh -- I thought there approx 863 total California employees which included Manhatten Beach Headquarters.

The count you mention can not possibly equal the multiple employment projections for their new MoVal warehouse... 2000-3000 jobs.

Thanx for the info.

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