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12/22/16
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In a notable Inland Empire industrial lease, Logistics Plus Inc has signed a long-term, deal for a freestanding, 272.4k sf facility within Jurupa Industrial Center in Ontario. Logistics Plus is a worldwide provider of transportation, logistics and supply chain solutions.
Logistics Plus Inc. will establish a new operation at the building in an expansion of its regional operations. It also maintains an existing facility at 2207 E. Carson St in Carson. The 20-year old, fast-growing and award-winning company has 400+ employees and provides freight transportation, warehousing, global logistics and supply chain management solutions.
The building, located at 1291 South Vintage Ave, sits on 11 acres 1.5 miles from I-15. It features a fully secured yard, excellent freeway access and 64 loading doors. The building design, with typical 48- by 56-foot column spacing and up to 28.5-foot ceiling clearance, is suited for a variety of user types.
Chuck Belden, Milo Lipson, and Ryan Velasquez with Cushman & Wakefield represented the landlord, Hager Pacific Properties.
The rapid lease-up of 1291 South Vintage Ave. highlights the strength of the Inland Empire industrial market, where vacancy registered 4.7 percent at the end of the third quarter. It also reflects demand for both Class A and B product.
“This is a solid, Class B property with an institutional ownership,” Lipson noted. “The level of interest we received proves that in a market where big and new garner the most attention, there are still tenants in the market who do not need 36-foot clear ceilings and modern amenities.”
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