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2/22/17
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In a big industrial lease out of the Inland Empire, Nellson LLC inked a $30 mil deal for a 302k sf industrial/R&D facility in Ontario. The company is a leading full-service bar and powder nutrition provider in North America.
Nellson was planning a move from its aging, four-building campus in Irwindale, and was seeking a modern property that could deliver optimal efficiency, increased capacity, and expansion space to support future growth. Nellson plans to invest an additional $40 mil to $50 mil in the building, located at 1000 S. Etiwanda Ave, to create a world-class production facility.
Built in 1989, the Ontario industrial facility features 25-foot clear height ceilings, 43 dock-high loading doors, ample parking spaces, and an ESFR sprinkler system. The property offers immediate access to the 10, 60, and 15 freeways, as well as the Ontario International Airport for transportation and distribution.
Nellson plans to build out a state-of-the-art R&D lab to support corporate R&D efforts, commercial scale-up, and testing of customer formulations; and will create segregated production lines that provide brand confidentiality, maximum allergen control, food safety, and efficient sanitation, as well as flexible scheduling. The result will be a state-of-the-art manufacturing facility better able to serve the rapidly evolving needs of Nellson’s customers. They expect to have the new facility fully operational by the first quarter of 2018.
Frank Geraci with Voit Real Estate Services represented Nellson and the landlord, IDI Gazeley.
“Industrial vacancy rates remain in the low five percent range in spite of the influx of over 77 msf of new construction in the past two years,” notes Geraci. “Tightening industrial markets and rising rents in neighboring coastal regions continue to drive businesses inland, resulting in increased demand for premium space in all size ranges in the Inland Empire.”
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