$5.3M Lease Shapes 96,100-SF B-T-S

CHINO, CA-Elite Leather Co., a manufacturer and retailer of leather furniture, will move its manufacturing facilities and headquarters to a 96,100-sf build-to-suit project in the Turner South Chino business and industrial park.

Steve Bellitti of the Colliers Seeley International office in Diamond Bar tells GlobeSt.com that Elite plans to move to its new home in June 2004 as soon as construction wraps up. He and Tom Taylor, also of the Colliers Seeley Diamond Bar office, represented the developer of the project, Turner Development Corp. of Newport Beach, which has signed Elite to a long-term lease valued at close to $5.3 million for the facility.

Elite will be moving out of 55,000 sf in the City of Industry, Bellitti says. The build-to-suit will rise in the Turner South Chino business and industrial park.

The master-planned industrial project in South Chino stretches along El Prado Road near the recently completed Chino Spectrum Marketplace retail center. Turner Development has plans to build about 300,000 sf on its acreage.

The furniture maker was represented in lease negotiations by Steve Mooradian of Lee & Associates in the City of Industry. Elite is one of many companies moving into Chino and other Inland Empire submarkets for newer, more efficient industrial space, according toBellitti, who says the area is attractive to employers for its competitive rates for new buildings, freeway access, and the lower-cost housing in comparison with other Southern California markets.

Turner Development Corp. has completed more than three million sf of building development and more than 248 acres of land development in the Inland Empire cities of Chino, Industry and Ontario, as well as the Orange County community of Lake Forest. One of its most recent projects is Turner RiverWalk, a 73-acre mixed-use development in Riverside.