(Read more on the industrial market.)
MORENO VALLEY, CA-Philips North America Corp. has leased nearly230,000 sf at Los Angeles-based IDS Real Estate Group's GlobeDistribution Center for an expansion of the Philips regionaldistribution center. According to Rob Fuelling, senior vicepresident of IDS, the North American unit of the electronicscompany signed a five-year lease valued at more than $5 million formore than half of the new Globe Distribution Center.
Philips is scheduled to move to the new space in September in arelocation from another Moreno Valley facility. The new IDS projectis located on approximately 18.5 acres of land at 25300 GlobeSt.
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