INLAND EMPIRE, CA-On Jan. 21, 2014 more than 280 commercial real estate professionals joined NAIOP Inland Empire for the third annual REXIE Awards held at the Hilton Ontario Airport hotel to celebrate exceptional achievements in industrial leasing, development and land acquisition last year. Awards were given in eight categories to local businesses and professionals for their milestone contributions that are strengthening the Inland Empire’s position as a leader in industrial development and a key international logistics hub in the US. Proceeds from the event, totaling $2,500, were donated to the Boys & Girls Club of Fontana.
Industrial Developer of the Year—Awarded to Panattoni Development Co. for breaking ground on four new Inland Empire industrial projects totaling roughly 3.2 million square feet and completing two speculative facilities in Rialto at approximately 373,000 and 718,000 square feet. Panattoni also builtout and leased a 1.4 million square foot building in Moreno Valley and a 636,000 square foot building in Riverside.
Industrial Owner of the Year—Awarded to Prologis for their ownership, either directly or through funds and partnerships, of Inland Empire industrial properties totally more than 37 million square feet, all 100% occupied in 2013. Prologis’ 425-acre land portfolio continues to grow.
Industrial Leasing Broker of the Year—Awarded to executive director Chuck Belden and executive vice president Phil Lombardo of Cushman & Wakefield, Inland Empire. Lombardo and Belden are veteran real estate brokers with a combined 63 years of experience. In 2013, they collectively completed more than 12 million square feet of lease transactions within the Inland Empire.
Industrial Investment Broker of the Year—Awarded to vice chairman Darla Longo and Barbara Emmons of CBRE, Ontario. Longo and Emmons have a combined experience of 57 years at CBRE. In 2013, they closed 9.2 million square feet of industrial investment sale transactions in the Inland Empire.
Investment Acquisition of the Year—Awarded to Alere Property Group for the purchase of the 1.1 million square-foot Rialto Commerce Center. The center is 83% occupied and consists of two class-A buildings developed in 2006.
Industrial Land Acquisition of the Year—Awarded to First Industrial Realty Trust for acquiring a 77-acre assemblage in Moreno Valley made up of 11 different ownerships. The assemblage took approximately 1.5 years to complete.
Industrial Lease Transaction of the Year—Awarded to Panattoni Development Company and Principal Real Estate Investors for leasing a 1.4 million square-foot build-to-suit industrial property in Moreno Valley. This transaction for a Fortune 30 company marks another milestone in the evolution of the Inland Empire as a primary international logistics hub.
Public Partner of the Year—Awarded to the County of San Bernardino Economic Development Agency for its commitment to business friendly practices that include streamlining permitting processes and actively engaging stakeholders. This focus resulted in leases totaling more than 3.7 million square feet and the creation of an estimated 2,440 jobs regionally.