Renewal of lease of 180,000 square foot bulk distribution facility for a publically traded company completed by the Lee Chang Group as representative for the tenant. This large warehouse property located at 740 N. Vintage Avenue is located on over 9 acres of property and has 50 DH doors in a cross-dock configuration. The property also has 32 foot ceilings, which is double the average warehouse height.
Owned by Prologis, this property was constructed in 1999 and remains in very good condition. Curb appeal is stunning, and the current tenant was very happy to renegotiate their lease terms through the Lee Chang Group to extend their stay in the facility.
The Lee Chang Group worked closely with Arie Solomon, from NAI Puget Sound Properties to negotiate the terms of the lease on behalf of the current tenant. New terms of the lease were valued at over $4.3 million for 62 months.
Demand for commercial warehouse space in Ontario and the surrounding Inland Empire has been steadily increasing for the last five years. Businesses have begun converting their businesses into distribution and manufacturing centers to meet the increased demand of Internet sales they are experiencing. The properties in this area offer these companies everything they need to experience growth at an affordable rate.
Additionally, access to the Ports of Los Angeles and Long Beach, as well as train and trucking transport has made the Inland Empire a great place to launch manufacturing centers. Many companies from around the world are now calling the Inland Empire home.
The Lee Chang Group has become one of the leading real estate brokering firms in the Inland Empire. Their superior marketing strategies and professional ethics have made them the “go-to” agents in this area. The lee Chang Group offers seller and buyer representation services, landlord and tenant representations services and property valuations.
Bulk Distribution Warehouse Lease
- Tenant/Buyer: Steelcase
- Landlord/Seller: Prologis
- Property Type: Warehouse – Distribution
- Region: Inland Empire West
- County: San Bernardino County
- City: Ontario, CA
- Property Size: 180,608 square foot
- Clear Ceiling Height: 29 ft
- Parking Spaces: 360
- Dock-High Doors/Loading: 50
- Drive In / Grade-Level Doors: 1
- Closest Freeways/Highways Exposure: San Bernardino Freeway (I-10) and Interstate 15 (I-15)
- Closest Ports: Port of Long Beach
- Value: $4,318,066.50
- Terms: 62 months
- NAI Capital, Lee Chang Group Agents: Richard Lee, Nicholas Chang
- Property Address: 740 N. Vintage Avenue