Inland Industrial Leases, Sale Tally 295,000 SF

[IMGCAP(2)]The Dirt Cheap deal with WCV Commercial is a four-year deal at 1100 S. Etiwanda Ave. in the Etiwanda Distribution Center that is valued at $2.69 million. Approximately 70 workers are now located within the facility, which is being used for distribution and third party logistics operations.

WCV was represented by Mike McCrary and Jeff Bellitti of Colliers International; the tenant was represented by Anthony Naticchioni of NAI Capital. The lease brings the 274,312-square-foot building to 100% occupancy and was signed within 30 days of the previous tenant leaving the space. According to Robert Munson, a WCV Commercial vice president, the Newport Beach- and Walnut Creek-based company has signed more than 100 leases totaling approximately 750,000 square feet over the past 60 days.

According to Colliers International's 2009 Industrial Report, the West Inland Empire market, which includes the City of Ontario, has a third quarter vacancy rate of 10.8%, up by 30 basis points from the second quarter of this year. The report states that the industrial market is showing signs of bottoming out and for the first time in over a year, buildings over 100,000 square feet have recorded a modest positive net absorption.

WCV also has recently leased 114,000 square feet at MIramar Commerce Park at 7825 Trade St. in San Diego to Alliant Techsystems, an aerospace and defense company. ATK renewed its current space of 54,000 square feet and expanded its operations by an additional 61,000 square feet in the 10-year lease, terms of which were not disclosed.

With the signing of the new lease, Miramar Commerce Park is now 100% leased. WCV was represented by Colliers International vice presidents Jay Alexander, Ryan Grove and Arnie Friedman.

In the Overton Moore Properties deal, Roxy Realty Investment LLC has acquired a 95,604-square-foot building at 389 Humane Way in OMP Empire Gateway Business Center in Pomona. It is the third of four buildings recently sold in the project, which is a four-building industrial park comprising 246,089 square feet on nearly 12 acres that was completed in 2008.

Terms of the sale were not disclosed. OMP was represented by Phil Lombardo and Ty Newland of Cushman & Wakefield. The buyer was represented by Stu Milligan of Cushman & Wakefield along with Lombardo and Newland.

In the Pacific Aviation Group lease, the tenant has leased the space, which is at 18499 Phantom, as its new headquarters. The space is in the newly constructed Global Access Business Centre, which consists of two class A multi-tenant industrial buildings totaling 223,773 square feet.