Inland Region Industrial Deals Top 1M SF

Colliers International reports that the 690,000 square feet of leases in Chino were signed by Motivational Marketing, a company that delivers a comprehensive range of fulfillment and logistics services. The firm executed one new lease at Watson Commerce Center-Chino, as well as two lease extensions--one at Watson Commerce Center-Chino and another at AEW South Chino Industrial Center.

[IMGCAP(2)]The transactions at Watson Commerce Center-Chino included a new lease for 121,390 square feet of industrial space at 6911 Bickmore Ave. as well as a lease extension in 297,107 square feet at 6910 Bickmore Ave. The second lease extension at AEW South Chino Industrial Center was for 271,435 square feet at 15820-15880 Euclid Ave. The 690,000 square feet of leases were valued at approximately $5.05 million.

Watson Commerce Center-Chino is a new master-planned LEED-certified big-box industrial business park owned and developed by Watson Land Co. South Chino Industrial Center is a 500,617-square-foot big-box industrial park owned by AEW Capital Management.

Both the property owners and Motivational Marketing were represented in all of the leases by the Colliers team of SVPs Thomas E. Taylor and Steven J. Bellitti, along with VP Josh Hayes, all in the Colliers Diamond Bar office.

[IMGCAP(3)]In the 651,000-square-foot sale in Fontana, an affiliate of New York City-based KTR Capital Partners acquired the 100% lease, three-building Jasmine Distribution Center at 13003-13169 Slover Ave. According to VP Brian Gagne of KTR, the acquisition represented "a great opportunity to acquire a class A, stabilized project in the high-barrier-to-entry Inland Empire West submarket." The deal is KTR's second acquisition in Southern California in the last two months and brings its portfolio in the market to more than 1.7 million square feet.

In the deal by Hager Pacific, the Los Angeles- and Orange County-based investment firm leased a 108,703-square-foot office/industrial property at 2400 E. Francis St. in Ontario to Kim Lighting, a division of South Carolina-based Hubbell Lighting Inc., in a five-year renewal valued at nearly $2.8 million. Kim Lighting will use the building, which is owned by managing partners David Hager and Adam Milstein, to manufacture high-performance outdoor lighting for commercial, industrial, residential and institutional clients.

Hager Pacific managing partner Rob Neal says that the facility provides Kim Lighting with a "prime strategic location and abundant space for product development and storage" that will help the lighting firm to expand its customer base.