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1/23/17
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OnTrac, a logistics company specializing in contracting regional shipping services in the Western United States, has inked a lease for a 255.5k sf logistics/warehouse facility currently under construction at the state-of-the-art Sun Valley Business Center. The building is located at 11063 Pendleton St, close to I-5 and just North of Burbank Airport, making it an excellent location for goods distribution.
The building is one of two structures now under construction at Sun Valley Business Center.
The second building at the 352.5k sf project will be 97k sf in size.
The project is being developed by a Joint Venture between Xebec Realty Partners, long a pioneer in building urban infill warehousing and distribution buildings, and Barings Real Estate Advisers, the global real estate investment adviser. Completion is expected in July 2017.
The 15-acre site was once a truck storage yard. The new Sun Valley Business Center will be the first in the valley to include cross-dock loading, 32-foot minimum height clearances, abundant dock-high loading positions, a power platform to provide heavy electricity use and fenced loading areas.
John DeGrinis, SIOR, Patrick DuRoss, SIOR, and Jeff Abraham, SIOR, with Colliers International represented the development venture, who acted on behalf of an institutional investor, in the long-term transaction. George Stavaris and Colette Ramirez with Triniti Commercial Real Estate partnered with Team DeGrinis in representing the landlord. The Colliers team, along with Colliers brokers John Kovaleski and David Buchholz, from Colliers Silicon Valley office, also represented the tenant, OnTrac in the landmark transaction. Terms of the deal were not disclosed.
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