Stirling Capital Investments Sells 53 Acres to Dr Pepper Snapple Group, Inc. at Southern California Logistics Centre

VICTORVILLE, CA (March 4, 2009) –Stirling Capital Investments is pleased to announce it has sold 53 acres of land to Dr Pepper Snapple Group, Inc. (NYSE: DPS) at Southern California Logistics Centre (SCLC) in Victorville, Calif. Dr Pepper Snapple Group markets more than 50 beverage brands throughout North America and the Caribbean. In addition to its flagship Dr Pepper and Snapple brands, the company’s portfolio includes 7UP, Mott’s, Sunkist soda, A&W and numerous otherwell-known consumer favorites.

Dr Pepper Snapple Group plans to develop an 850,000-square-foot Western production and distribution center valued at more than $120 million upon completion. The facility will produce as many as 40 million cases of beverages each year and is expected to employ 200 people once open. Construction is anticipated to start in March with an estimated completion date of Spring 2010.

“SCLC is a proven strategic corporate location, a place where America’s top companies such as Dr Pepper Snapple Group are investing and locating,” said Brian Parno, vice president of Stirling Capital Investments, the master developer of SCLC. “SCLC is comprised of 2,500 acres for commercial and industrial development providing abundant land opportunities for future corporate expansion.”

The DPS facility will consist of 550,000 square feet of warehouse space and a 300,000-square-foot manufacturing plant with up to six manufacturing lines.

“SCLC offers an ideal location, allowing us to more efficiently distribute our products to customers in California and parts of the Southwest,” said Larry Young, president and CEO of Dr Pepper Snapple Group. “In addition, the combination of the City of Victorville’s cooperation and the state-of-the-art infrastructure available at SCLC made this location decision easy.”

Southern California Logistics Centre is master-planned for 60 million square feet of commercial and industrial development and is in the early stage of delivering the 6.5 million-square-foot first phase, which includes the land sold to DPS. Approximately two million square feet has been constructed to date. CB Richard Ellis is responsible for marketing SCLC on behalf of Stirling Capital Investments.

“When a company with a reputation of Dr Pepper Snapple selects Victorville as the home for it new Western distribution hub, it validates our continued success to attract high quality development and jobs for our residents,” said Victorville Mayor Rudy Cabriales.

A number of major corporations are already located at Southern California Logistics Centre and in the City of Victorville including Newell Rubbermaid, General Electric, Pratt & Whitney, FedEx, Goodyear Tire & Rubber Company, M&M/Mars, ConAgra Foods and Nutro Products, Inc.

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Global Access Victorville

Global Access Victorville, the former George Air Force Base in Victorville, Calif., is an 8,500-acre multimodal freight transportation hub supported by air, ground and rail connections. Global Access Victorville is comprised of Southern California Logistics Airport (SCLA), a 2,500-acre world-class air cargo and aviation facility; Southern California Logistics Centre (SCLC), a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development; and Southern California Rail Complex (SCRC), a planned 3,500-acre intermodal and multimodal complex entailing rail-served facilities. Stirling and the City of Victorville have teamed up to redevelop the former George Air Force Base into Global Access Victorville, the largest fully-integrated commercial development in the region, which is anticipated to create more than 24,000 jobs and support another 18,500 jobs in the surrounding area. Global Access Victorville offers 24-hour, seven-day-a-week operations with onsite U.S. Customs. It has been designated a Foreign Trade Zone and a Local Agency Military Base Recovery Act Zone by the federal government. It has two intercontinental runways and can accommodate all current-flying commercial and military aircraft with 24-hour, seven-day-a-week air tower operations and emergency response capabilities comparable to that of the world’s largest airports. For more information, visit www.globalaccessvictorville.com.

 

About Stirling Capital Investments

Stirling Capital Investments is a joint venture between Stirling, a Foothill Ranch, Calif.-based strategic, full-service, value-added development company specializing in master-planned communities and major land renovations and Denver, Colo.-based DCT Industrial Trust Inc. (NYSE: DCT), a leading industrial real estate investment trust. Stirling is led by partners Dougall Agan and Chris Downey, who have been responsible for more than $3 billion in development activity on large-scale land development projects in Los Angeles, Orange, San Bernardino and San Diego counties. DCT Industrial Trust Inc., is a leading real estate company specializing in the ownership, acquisition, development and management of bulk distribution and light industrial properties located in 25 of the highest volume distribution markets in the U.S. as well as Mexico.

 

The City of Victorville: All the Ingredients for Business Success

The City of Victorville is a pro-business community offering many incentives, such as permit fast-tracking, employee home purchasing assistance, training and tax credits and a less-restrictive regulatory environment. For more information, visithttp://ci.victorville.ca.us/.