Cabot Properties Lands Tenant for New Industrial Asset
- Dec 14, 2020
Cabot Properties has already landed a tenant for Santa Ana Commerce Center, its recently completed industrial property in Fontana, Calif. HiPacking Corp. signed a prelease for the 160,000-square-foot speculative industrial development that Stream Realty Partners built on behalf of Cabot Properties.
Located at 14144 Santa Ana Ave., Santa Ana Commerce Center was constructed with two ground level doors, 14 dock high doors, 32-foot clear heights, 1,200 amp electrical service, 52- by 50-feet bay spacing, 89 parking stalls, ESFR sprinkler system and 6,211 square feet of office space.
CBRE’s Josh Hayes and Eloy Covarrubias along with Colliers International’s Tom Taylor and Steve Bellitti were in charge of leasing the property.
Stream Realty secured all the necessary approval and permits for the project in the fourth quarter of 2019 and began construction shortly after in the first quarter of 2020. The construction process for Santa Ana Commerce Center went ahead despite the COVID-19 pandemic and reached substantial completion this November. Stream has previously worked with Cabot Properties, after being tapped to manage an approximately 1.6 million-square-foot industrial portfolio of seven warehouses in California’s Inland Empire.
Capitalizing on Inland Empire’s industrial demand
According to Stream Realty, the strategy to build Santa Ana Commerce Center began with identifying a well-located site that was west of Interstate 215 and was zoned for industrial use. Stream Realty’s strategy also focused on building a site with efficient coverage, functional divisibility and flexible ingress and egress.
The new industrial property attracted a lot of interest from varying types of tenants, according to Stream Realty. Scott Sowanick, senior director for Stream’s Industrial Development Services division, said in prepared remarks that the Inland Empire’s industrial market is still seeing demand despite the uncertain market.