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9/13/18
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Dorel Home Furnishings, out of Canada, has agreed to a $33 mil renewal lease of a 750k sf industrial warehouse facility within the five-building Shea Center Ontario business park in Ontario. The lease term was not disclosed.
The property is located at 5400 Shea Center Dr, east of I-15 on the south side of I-10. Shea Center Ontario is currently 100% occupied. Other tenants at the campus include Emser Tile, Trek Bicycle, Restoration Hardware and Neovia Logistics.
Chuck Belden and Kyle Kehner of Cushman & Wakefield represented Dorel, a global manufacturer and distributor of well-known products in the juvenile, sports, and home furnishings sector. Dorel has been in this location since 2001. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit Commercial Real Estate Services repped the landlord, Aliso Viejo-based Shea Properties.
Dorel will continue to use the facility as a distribution center for its Home Furnishings division, according to Geraci, while Shea plans to implement minor capital improvements inside the facility.
“As an experienced owner with a portfolio spanning 4.9 msf of industrial, office and retail space and more than 8,100 apartment units, Shea Properties manages all of its assets in-house, ensuring that all properties are well-maintained to meet the needs of tenants,” says Geraci.
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