Inland Empire Industrial Asset Lands 2 Tenants
- Jul 09, 2019
Alere Property Group has signed leases with Technical Consumer Products, a subsidiary of TCP Lighting, and Esperia Holdings at a 250,248-square-foot Class A Airport Distribution Center in Ontario, Calif. The pair of tenants will occupy the full building.
Newmark Knight Frank’s Mark Kegans and Ron Washle represented landlord Alere in the transaction. Technical Consumer Products, represented by JLL’s Tim O’Rourke, signed on for 146,816 square feet. Lee & Associates’ John Seoane acted on behalf of Esperia Holdings in its 103,432-square-foot lease. Previously, E. Mishan & Sons Inc. occupied the distribution center.
Located at 5700 E. Airport Drive in the Inland Empire, the asset is within a quarter mile of the San Bernardino Freeway, providing direct access 40 miles west into Los Angeles. Ontario International Airport—one of the country’s busiest freight hubs—is a short distance away.
The building was constructed in 1989 and features 28-foot clear heights, 10,662 square feet of office space, 42 dock-high loading doors and a pair of 12-foot by 14-foot drive-in doors. The property also provides a 305-foot truck court and an ESFR sprinkler system.
The Inland Empire has long been a red-hot industrial market, boasting a robust development pipeline building off strong demand. Alere’s property is well-placed at the western edge of the market, an area of particularly high demand, as e-commerce and third-party logistics firms continue to expand rapidly to serve the Los Angeles area. According to Yardi Matrix, 20.8 million square feet of Class A industrial space is within a mile of the asset.