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November 14, 2018
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INLAND EMPIRE NEWS
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Sunshine Metals Brightens Up Corona Industrial Market with Warehouse Lease

1/10/18

Sunshine Metals Inc agreed to an eight-year, $4 mil lease for a 68.4k sf ($0.61/sf/mo) freestanding industrial warehouse in Corona. The building is located on a 157.3k sf lot at 1228 Sherborn St, east of I-15 and just south of the 91 Fwy, allowing ease of access throughout the region.

The property features 10.7k sf of high-quality office space, six dock-high loading doors, 2,000 amps of power, a fully installed high pile racking system, a showroom, and 1k sf of bonus mezzanine.

The property is owned by Excel Business Park LLC, which was repped in the deal by Chris Migliori with DAUM Commercial Real Estate Services. Cameron Driscoll and Luke McDaniel of JLL repped Sunshine Metals in the transaction.

Migliori also represented the owner in acquiring the asset as an investment property. After the recent acquisition, the new owner implemented interior and exterior upgrades throughout the property, enhancing its appeal and making it better-suited to the distribution needs of supply and warehousing users.

“The new tenant is relocating from a previous Fullerton, California location and was drawn to the building’s upgraded amenities, as well as the easy access throughout Southern California and to the Ports of Los Angeles and Long Beach that the Inland Empire provides, at rates 20-to-30 percent lower than Orange County,” continues Migliori.

The Inland Empire region saw 12 msf of completed construction in 2017 and has just under 20 msf currently in the pipeline, making buildings of this size available for lease uncommon, according to the latest research from DAUM.





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