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IRVINE, CA-AutoZone has signed a five-year commitment for nearly 447,000 sf of warehouse and distribution space in Ontario, according to Michael Wood, director of leasing at Irvine-based Sares-Regis Group’s commercial property management services division. The building, which includes 34,000 sf of mezzanine space, is at 1800 Wineville Rd. and serves as AutoZone’s West Coast distribution center.

Sares-Regis Group represented the owner, Ontario Industrial Partners. AutoZone was represented by Mike McCrary, a broker in the Ontario office of Colliers International.

The new lease, a renewal for AutoZone, is valued at approximately $9.2 million. The auto parts firm’s previous lease in the building was for 10 years.

Sares-Regis has a combined portfolio of property and fee-based management contracts valued at more than $4 billion. These include 15 million sf of commercial and industrial space, along with 14,000 apartments. In its commercial leasing activities, Sares-Regis encourages outside brokerage participation and often assigns exclusive listing agreements to established brokerage teams.

The Sares-Regis-Group’s other commercial activities in the Inland Empire have included two large sales in recent months. The company sold 99 acres of industrial property about two blocks from Ontario International Airport to Denver-based ProLogis for $96 million recently, with the property representing one of the last master-planned distribution sites in the city.

In a transaction in Fontana, the Irvine-based company sold the three remaining warehouse and distribution buildings at its 3.1-million-sf Sierra Business Park to San Francisco-based AMB Property Corp. for $55 million. The three buildings that AMB acquired total nearly 605,000 sf.

Other Sares-Regis holdings in Southern California include the Arbors office project in Thousand Oaks, where the firm recently opened two new buildings that were fully leased upon completion of construction. The two new buildings total 142,250 sf and expanded the office campus to 273,000 sf.

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