DAUM Directs Lease of Inland Empire Warehouse Facility
- Jan 19, 2018
DAUM Commercial Real Estate Services has negotiated an 8-year lease of a 68,394-square-foot freestanding industrial facility in Corona, Calif. DAUM directed the lease on behalf of the lessor, Excel Business Park LLC.
New tenant Sunshine Metals Inc. is relocating from Orange County. The leasing transaction was completed within 60 days of escrow closing on the acquisition of the building. The total consideration of the lease is approximately $4 million.
Located at 1228 Sherborn St. on a 157,252-square-foot lot, the warehouse facility is adjacent to Interstate 15 and State Route 91, providing easy access to the entire region. Built in 2004, the asset has undergone renovations; the owner implemented strategic interior and exterior upgrades to make it better suited for distribution needs.
The list of property features includes:
- 10,656 square feet of office space
- six dock-high loading doors
- 2,000 amps of power
- fully installed high pile racking system
- a showroom
- 1,000 square feet of mezzanine
“While the Inland Empire region saw 12 million square feet of completed construction in 2017, and has just under 20 million square feet currently in the pipeline, buildings of this size available for lease remain rare,” said Chris Migliori, executive vice president at DAUM, in prepared statements. “This led to high demand for this asset from smaller industrial users seeking a facility to suit their unique needs.”
DAUM has recently arranged the sale of a 181,069-square-foot industrial asset in Fullerton, Calif.
Image courtesy of DAUM Commercial