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July 16, 2024
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$286 Mil Ontario Industrial Lease Recognized as SIOR Largest Transaction for 2022


The DAUM Commercial Real Estate Services team of Gus Andros, SIOR, Eric Fikse, SIOR, and Richard John, SIOR, has won the Society of Industrial and Office Realtors (SIOR) Top Transaction Award for the Largest Transaction Overall for 2022 for a 15-year, $286 mil lease transaction for 1.239 mil sf ($1.19/sf/mo) of space in Ontario.

The property, located in Ontario, was leased to a Canadian-headquartered clothing company for use as their primary distribution center for the western United States. The property owner is Prologis, the global logistics real estate firm.

The asset is located within the Ontario submarket and offers immediate access to several major thoroughfares and direct transportation routes to the bustling distribution ports of Los Angeles and Long Beach, and the Los Angeles International Airport. The facility boasts a private entrance and ample parking space for employees and distribution vehicles. Interior amenities include cutting-edge equipment and spacious working floors.

The Inland Empire’s industrial real estate market is extremely robust, with a 2.1% direct vacancy rate. Per square foot rents rose 3.3% to a high of $1.53 as of the end of Q1, according to Daum Commercial Real Estate Services Q1 Market Report.

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