CHINO, CA-Jones Lang LaSalle revealed that it has completed a lease with Repet Inc. for 100,000 square feet of industrial space at EastGroup Properties’ 14207 Monte Vista Ave. here. “In this challenging market, EastGroup’s ability to adapt to current conditions made it possible for us to secure a deal with REPET that provided improvements at a favorable rate,” says JLL executive vice president Sam Foster, who worked with EVP Mike Fowler and associate Chris Brandt, along with IDS Real Estate Group to represent the landlord.
“EastGroup is one of the few industrial owners that continues to be well capitalized and positioned to do deals,” Foster adds. Tony Phu of Colliers International represented the tenant.
Ideally located near the 10, 60 and 57 Freeways, the property features excess trailer storage, rail access and a direct connection to the Santa Ana Regional Interceptor Line that provides industrial users with an environmentally-friendly and convenient way to dispose of high-saline waste.
JLL tells GlobeSt.com that the lease is for 10 years, but could not provide further lease terms or asking rate at the property at this time. EastGroup is a real estate investment trust focused on the acquisition, development and operation of industrial properties in major Sunbelt markets throughout the US with an emphasis in the states of Florida, Texas, Arizona and California. Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup's portfolio currently includes 28 million square feet. The property is managed by IDS Real Estate Group.
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