The Lee Chang Group represented the JC Penney Company in the lease of a 624,627 sq ft industrial property. The value of this transaction was just under $53 million.
Upon the sale of their existing 1,084,963 sq ft distribution facility in Buena Park, the Lee Chang Group along with NAI Global Corporate Services was tasked with locating a new facility for JC Penney Company to lease. This facility will serve as their new distribution facility on the West Coast to stock their retail stores and fulfill their e-commerce orders. They had a unique requirement due to the need for an above average number of employee parking spots and trailer parking spots.
The majority of developers today are looking to maximize the size of the building and not have much extra land for parking. This resulted in few options for JC Penney. After a long intense search, they were able to identify a brand new construction warehouse in San Bernardino owned by Pacific Industrial that met all their requirements.
The subject property is 624,627 sq ft situated on 37.4 acres. It is a cross-dock building with docks on three sides of the building. It also features 137 dock high doors, 36’ minimum clear, 4,000 amps of power, 408 auto parking, 190 trailer parking and 5,861 sq ft two-story office. The property is situated just off of the 215 freeway. Corporate neighbors include Fed Ex, HP, Smuckers, Michelin and Dollar Tree.
The Lee Chang Group provides buyer representation, seller, landlord and tenant representation services throughout the Inland Empire and Greater Los Angeles area. They have created a marketing system that allows them to quickly match buyers and sellers or landlords and tenants throughout these areas. Their extensive knowledge of the commercial and industrial property market has made them a leader in this industry.
- Tenant/Buyer: JCPenney Company
- Landlord/Seller: Pacific Industrial
- Property Type: Industrial
- Region: Inland Empire East
- County: San Bernardino
- City: San Bernardino, CA
- Property Size: 624,627 square feet
- Clear Ceiling Height: 36 ft
- Parking Spaces: 543
- Dock-High Doors/Loading: 137
- Drive In/Grade-Level Doors: 2
- Closest Freeways/Highway Exposure: I-215 and I-210
- Closest Ports: Port of Long Beach
- Value: $52,975,266.00
- Terms: Lease
- NAI Capital, Lee Chang Group Agents: Richard Lee, Nicholas Chang, Justin Kuehn
- Property Address: 5959 Palm Ave