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CORONA, CA-For the past few years, the smaller owner-user has held the spotlight in Southern California’s industrial realm, but some deals of late are going to major companies who are gobbling up large pockets of space through long-term leases. One of those deals is US Foods’ agreement to take 210,000 sf at Corona Crossroads, a 39.5-acre, $42-million multi-user industrial project that’s still under construction. In the deal, US Foods agreed to a 15-year lease for the bulk of a 290,000-sf build-to-suit warehouse and distribution facility that will be available for occupancy in late June. Rick Ellison and John Gallivant of Cushman & Wakefield represented US Foods and David Consani, Jim Koenig and Darla Longo of CB Richard Ellis represented Laguna Niguel-based Birtcher Development & Investments, the project’s developer. Financial terms were unavailable for the deal, but the property includes 60,000 sf of refrigeration and freezer space, and a 30-foot clear height among its amenities.So far, six of the eight buildings at Corona Crossroads are committed with 70% of the space under lease. Other tenants include Imperial Range, BTL Machine, Newport Trading and Steel Tech Inc. Final construction on the project is set for a July completion date. Of the remaining facilities, a 66,105-sf building is available for lease or sale, another is in escrow and a third recently sold to a private investor. There’s also the nearly 80,000 sf in the US Foods building available for lease.Birtcher came on board on the project in 2002 when it acquired the property from Riverside Flood Control and AEW Capital Management. In the deal, Cornerstone Real Estate Advisors served as Birtcher’s equity partner, with construction lending coming from Bank of America.

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