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5/18/21
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Banyan Imports has inked a lease for a 203.4k sf building within California Commerce Center in Ontario. Terms of the deal were not disclosed.
The building, located at 3551 E. Philadelphia St, features 4.8k sf of total office space, 29 dock-high doors, one ground-level door with a truck ramp, 30-foot clear height, an ESFR sprinkler system, a large concrete truck court and a secure gated yard.
Ron Washle, SIOR, and Mark Kegans, SIOR, represented the landlord Principal Real Estate Investors.
The Inland Empire industrial vacancy rate hit a record low in the first quarter with robust leasing activity from the last nine months of 2020 carrying over into 2021, according to Newmark Research. Construction activity was up 36.2% from year-end 2020, and quarterly net absorption was substantially higher than the 20-year average of 4 msf.
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