Warehouse Tenants Sign for 624,000 SF

ONTARIO, CA-Irvine-based Sares-Regis Group has signed third-party logistics company Pacific Coast Warehouse Co. to a 411,548-square-foot lease at 3601 Jurupa St. in one of two Inland Empire distribution building leases totaling nearly 624,000 square feet. The seven-year lease is valued at more than $10 million and commences July 1, said Michael Wood, SRG’s director of leasing. SRG developed the building in 1996 and manages it for owners Ontario Industrial Partners.

In the other deal, Florida-based Tech Packaging Inc. signed a 63-month lease with Australian REIT Dexus Property Group for a 212,300-square-foot industrial building at 9545 Santa Anita Ave. in Rancho Cucamonga. The lease is valued at nearly $3.5 million, according to the Colliers International team of EVPs Steve Bellitti and Tom Taylor and associate Summer Coulter, who represented the landlords in both of the leases.

Jim Marcoly, president of Pacific Coast Warehouse Co., says the Ontario location is part of the growth strategy for the company, which was founded in 1927 in Vernon, CA. The Ontario location improves the company’s ability to move goods throughout the region, Marcoly said.

Marcoly added that the building’s 30-foot plus clear height also enables the company to install more efficient state-of-the-art racking systems, which cannot be accommodated at some of PCWC’s other Southern California locations in Chino.

Pacific Coast will continue its operations at a 350,000-square-foot facility in Chino as well as its Northern California operations, totaling nearly 200,000 square feet in Newark.

Bellitti says that the leases reflect "the continued strengthening of the big box market in the Inland Empire,” which posted increased activity and net absorption in 2010. He notes that the 3601 Jurupa St. property was formerly occupied by California Hardware. It recently underwent a major renovation with T-5 lighting throughout the building, new interior/exterior paint and office renovations. Tenant Pacific Coast was represented by EVP Tim O’Rourke of Jones Lang LaSalle.

The 9545 Santa Anita Ave. property in Rancho Cucamonga was built in 1989 and is a cross-dock building with drive-around capability, possible rail service, and 19 dock-high doors with levelers and shelters, with access to I-15 and I-10 freeways. Tenant Tech Packaging was represented by Jeff Smith and John Seone of Lee & Associates in Ontario.