Massive Inland Empire Industrial Park Leases Up 2nd Phase
- Feb 22, 2018
Watson Land Co. has completed two leases totaling nearly 1.2 million square feet of Class A industrial property at Watson Industrial Park Chino, a 263-acre master-planned center in Chino, Calif., completing the leasing of the second phase of development at the site.
WIP Chino offers a variety of flexible distribution, warehouse and operational headquarters locations, all designed to achieve LEED certification through the U.S. Green Building Council.
When finished, the project will consist of 5.1 million square feet in 11 buildings, with nearly 2.6 million square feet in five buildings already complete and occupied.
The two leases consist of 725,160 square feet of Building 862 and 442,920 square feet of Building 846, triggering phase three of the 5.1 million-square-foot master-planned Chino development.
“We are extremely pleased with the progress at Watson Industrial Park Chino and look forward to commencing with the next phase of our master plan,” Jeffrey Jennison, Watson’s president & CEO, said in a prepared release. “Completion of Building 842 is a special milestone for our company as it is the largest building developed by Watson to date. Our ability to lease the entire building prior to final completion underscores the strength of the market.”
The construction of phase three will begin in March and will consist of more than 1.4 million square feet in three new buildings. Once that is completed, phase four will feature an additional 1.1 million square feet of space in an additional three buildings, with completion of all phases expected by the conclusion of 2019.
The development boasts 32-36-foot minimum warehouse clearance height, an early suppression fast response sprinkler system, an oversized, 100 percent concrete truck yard, abundant trailer storage positions and dock high doors. The buildings offer a generous use of glass, score lines, accent painting, and landscaping, as well as abundant skylights and clerestory windows.
Situated in an Inland Empire West location, the development offers access to major transportation corridors like the 10, 15, 60, 71 and 91 freeways; the Ports of Los Angeles and Long Beach; several regional airports; and Burlington Northern Santa Fe and Union Pacific rail lines.
Colliers International’s Tom Taylor, Steve Bellitti, Summer Coulter and Josh Hayes represented Watson in the leases at the development.
Last May, Watson Land Co. promoted Jeffrey Jennison to CEO and since that time, he’s led Watson’s portfolio and operations, including new development, investment and property management. The company currently owns and operates a 20 million-square-foot portfolio of high-quality industrial properties located throughout Southern California and the East Coast.
Image courtesy of Watson Land Co.