The first phase of the three-phase project includes the 150,000 sf of office space as well as 10,000 sf of retail space. The first phase is expected to be completed in the fourth quarter of 2008.
Natalie Bazarevitsch of CB Richard Ellis says that the project "has already generated a tremendous amount of interest" from corporate tenants looking for class A space. Bazarevitsch and CBRE's Taylor Ing, Michael Day and David Waggoner are leasing agents for the development.
The CBRE leasing team says that the expansion of Guasti Road, tying Archibald Avenue to the balance of Centrelake, is expected to further increase the project's market appeal by providing easier access to and from the site. Ontario Airport Towers will offer space ranging from 1,500 sf to 100,000 sf, with a parking ratio of five vehicles per 1,000 sf of office space.
When the joint venture originally announced the project, the partners pointed out that the Ontario office market has been one of the best performing office markets in the country in recent years as changing demographics have shifted quite a few office jobs to the Inland Empire region. In addition, population growth in the area is driving further demands from employees to require their employers to establish locations in the Inland Empire.
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