SAN BERNARDINO, CA-Wells Fargo Home Mortgage has signed a 10-year lease with developer Opus West for 245,000 sf of the 283,000-sf Northpointe office project in what is believed to be the largest office lease ever in the Inland Empire. Terms of the deal were not disclosed, but total lease consideration for the entire building is anticipated to be at approximately $80 million when the property is fully leased.

Wells Fargo has embarked on a phased occupancy of the space, which will be the new regional headquarters for the company. Developed by Opus West as a build-to-suit, the project is set on 24 acres on the northwest corner of Tippecanoe Avenue and Hospitality Lane in San Bernardino’s Hospitality Lane Corridor. It is one of the largest office build-to‑suit developments in the Inland Empire.

Wells Fargo will initially consolidate more than 2,000 regional workers in one central location at the new Northpointe offices, including employees who previously worked at branch offices in Riverside and San Bernardino. According to Fred Wilson, city manager of San Bernardino, the move by Wells Fargo underscores the growth of professional jobs and steadily climbing household income in the Inland Empire.

Opus West is marketing the remaining 38,000 sf of Northpointe office space to other corporate tenants. Besides the building itself, the developer is counting on prospective tenants to be attracted by Hospitality Lane amenities including the Shoppes at Northpointe retail and dining complex.

Jeff Hill, vice president of real estate development for Opus West, cites statistics showing that the Inland Empire leads the six-county Southern California region in growth. Opus West is under way on other Inland Empire projects including the 400,000-sf Shoppes at Chino Hills, an open-air lifestyle center to be located at Grand Avenue and Peyton Drive, just west of the Chino Valley (71) Freeway.

Opus West is developing the Chino Hills project in collaboration with the City of Chino Hills, which envisions the development as a new downtown for the city and part of a new 750,000-sf masterplanned project that will include civic, office, retail, restaurant and residential uses. In Chino Hills, Opus West also is developing a 500,000-sf retail power center called the Commons at Chino Hills.

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