Voit Completes 302 KSF Industrial Lease near LA
- Feb 23, 2017
Ontario, Calif.—Voit Real Estate Services has represented Nellson LLC, a powder nutrition provider, in leasing a 302,080 square-foot industrial/R&D facility in Ontario, Calif. Voit’s Inland Empire office also worked on behalf of the lessor, IDI Gazeley, in the $30 million off-market transaction.
Located at 1000 South Etiwanda Ave., the property provides convenient access to the 10, 60 and 15 freeways, as well as to Ontario International Airport. The facility features 25-foot clear height ceilings, 43 dock-high loading doors, large parking spaces and an ESFR sprinkler system.
“By sourcing this off-market opportunity, we were able to provide Nellson with a high-profile, centrally located facility, while simultaneously securing a high quality tenant on behalf of the property owner. Further, we were able to identify a property in close proximity to the client’s Irwindale operations, enabling Nellson to retain its experienced local workforce as it relocates,” said Frank Geraci, executive vice president of Voit’s Inland Empire office, in prepared remarks.
Nellson intends to invest $40 to $50 million in the 1989-built facility and relocate from Irwindale, Calif. An R&D lab to support corporate R&D efforts, commercial scale-up and testing of customer formulations will be added at the new location. The nutrition company also plans to create segregated production lines that provide brand confidentiality, maximum allergen control, food safety and efficient sanitation, as well as flexible scheduling.
“Nellson was planning a move from its four-building aging campus in Irwindale and was seeking a modern property that could deliver optimal efficiency, increased capacity, and expansion space to support future growth,” added Geraci.
Nellson plans to have the new facility fully operational by the first quarter of 2018.
Despite the 77 million-square-foot influx of new space in the past two years in the Inland Empire, industrial vacancy rates remain low. Recently, Voit Real Estate Services also completed the leasing of the Prologis Mission Distribution Center in the Inland Empire to a furniture manufacturing company.
Image courtesy of Voit Real Estate Services