Shea Center Tenants Ink $27M in Leases

[IMGCAP(1)]ONTARIO, CA-Three tenants at Shea Center have signed leases for more than 1.3 million sf that are valued at an aggregate of more than $27 million, according to CB Richard Ellis. They include Dorel, the largest tenant in the four building business park, which renewed its 623,630-sf lease for an additional five-year term; Emser Tile, which renewed its lease for 432,397 sf, and Cooper Lighting, which renewed its 244,947 SF lease, both for Shea Center, located at 5200-5400 Shea Center Dr., is owned by Aliso Viejo, CA-based Shea Center Ontario LLC. The property owner was represented in all three deals by CBRE’s Frank Geraci and Walt Chenoweth.

Chenoweth was also one of the brokers on another recent Inland Empire lease, in which ResMed, a San Diego County-based developer of products for sleeping and breathing disorders, has signed a lease for 130,000 sf of distribution space at Chicago-based Ridge Property Trust’s Centerpointe Business Park in Moreno Valley. Chenoweth represented Poway-based ResMed, which expects to occupy the space in October and to operate it as its West Coast distribution center to serve customers throughout the southwestern US. Ridge Property Trust represented by Jeff Ruscigno of Lee & Associates and Jim Panting of Commercial Realty Advisors.

[IMGCAP(2)]ResMed manufactures its products in Australia, and the vast majority of the items come to the US in 40-foot sea containers. When the new Moreno Valley facility is in operation, these containers will then be trucked from the port to the company’s new Centerpointe location, where an automated warehouse management system will help fulfill and ship orders.

Centerpointe, located near the intersection of the 60 and 215 freeways, was designed by Ridge to serve companies as a logistics hub. The industrial development is adjacent to the March Inland Port, which shares aviation facilities with the Air Force Reserves on March Joint Air Reserve Base. Terms of the ResMed lease were not disclosed.