X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

[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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.