|
|
11/02/20
|
Furniture distributor Modway Inc signed a 10-year lease for a new, 1.055 msf distribution facility in Hesperia. Modway, a major distributor of living, dining, bedroom, outdoor, lighting and office furniture, plans to establish new distribution operations with an estimated 200 jobs at the building, which will become operational by fall 2021.
The new build-to-suit, industrial building is located on a 60-acre parcel at 8300 Caliente St, near Interstate 15 and U.S. Route 395. The facility is part of the 200-acre Hesperia Commerce Center One project, comprised of three Class A logistics buildings, each of which will provide at least 1 msf of space.
“Our region’s strong transportation infrastructure and skilled workforce continue to support business growth. It’s a great sign for our region to see companies such as Modway thrive and leverage our strong regional market fundamentals, especially in the High Desert, to reach their customers across the U.S.,” said Curt Hagman, Chairman of the San Bernardino County Board of Supervisors.
The Modway facility is owned by Philadelphia-based real estate investment firm Exeter, who acquired the 60-acre site from Covington Group, a Dallas-based real estate development firm, and its partner M.F. DiScala & Company. CBRE’s Walt Arrington, Darla Longo, Barbara Perrier and Jeff Fritch of CBRE represented Covington in the land sale. Andrew Lara and Gus Andros of Daum Commercial repped Modway in the lease transaction with Exeter.
Modway operates two U.S. distribution sites, one on the East Coast and one on the West Coast, which is currently located in 310k sf of space in Fontana. This relocation and expansion to Hesperia triples Modway’s West Coast distribution operations, helping them to further scale their business.
“The business park environment is advantageous to Modway because it is entitled, planned and built for industrial distribution,” Lara said. “This move creates greater operating efficiencies for Modway to service the furniture industry. The location also gains from its freeway access to the Port of LA.”
Andros further noted that they have seen a significant increase in industrial transactions ranging in size from 100k sf to 1 msf of space in the Inland Empire this year as compared to 2019.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
