Catellus Buys Former Kaiser Steel Mill

Catellus Development Corp. said it paid $16 million for the 588-acre property in San Bernardino County that it will develop into a giant industrial park and truck plaza. A subsidiary of the real estate development firm will eventually construct 6 million square feet of industrial space at the Kaiser Commerce Center in the Fontana area. The property, which is located near the intersection of Interstates 10 and 15, was purchased from Kaiser Ventures Inc. An environmental cleanup of the site and completion of transportation improvements are scheduled to be completed by mid-2002, according to the San Francisco-based company.