Black Creek Group Inks Two Leases Totaling 1.2M SF in Inland Empire
The company states with those two lease deals on the books, the firm’s approximately 11.2 million square-foot California industrial footprint has grown to 93.5% leased.
INLAND EMPIRE, CA—Black Creek Group of Denver reports it has secured two large leases at its industrial properties in Inland Empire, CA totaling 1.2 million square feet.
The deals with the unnamed tenants involve full building leases at its Arrow Route DC, a 612,000-square-foot, recently-completed Class A development in Inland Empire West, and at Waterman DC, a 554,000-square-foot Class A facility in Inland Empire East.
The company states with those two lease deals on the books, the firm’s approximately 11.2 million square-foot California industrial footprint has grown to 93.5% leased.
“The completion of these leases is a testament to the strong tenant demand we are seeing within the Inland Empire market for well-located, Class A industrial facilities,” says Scott Recknor, head of asset management at Black Creek Group. “We developed both buildings to meet the continued robust need for state-of-the-art space within the market and the quick lease up of both, with Arrow Route leasing two months after construction completion, not only demonstrates that need, but also showcases the strength of our development and asset management teams.”
Arrow Route DC has direct access to I-15, I-10 and the 210 freeway. The tenant, a leading furniture manufacturer and distributor, will take occupancy in the second quarter of this year.
Waterman DC is in close proximity to the I-10 and I-215 freeways. The tenant, a global logistics provider, took occupancy in the first quarter of this year.
For the Arrow Route DC lease, Black Creek Group was represented by Ian and Chris DeVries of Colliers and the tenant was represented by Arie Salomon, Nick Chang and Richard Lee of NAI Capital. For the Waterman DC lease, Black Creek Group was represented by Jeff Smith, Ryan Lal and Austin Hill of Lee and Associates and the tenant was represented by Steve Shields of TPC and Mike Chavez of Lee and Associates.