The Lee Chang Group represented the Dennis Foland Inc., in the renewal of their distribution warehouse for 60 months. The Lee Chang Group represented the tenant, Dennis Foland Inc., in the renewal of their lease at 1500-1510 Hellman Ave in Ontario. The lease was renewed for a period of 60 months for a lease consideration of over $3.6 million.
Dennis Foland, Inc., is a part of the Foland Group. It is the merchandising services division, and parent company, founded in 1979 as a custom souvenir and novelty supplier, steadily building a customer base of theme parks and attractions that have all become American and international household names: Knott’s Berry Farm, San Diego Zoo and Chuck E. Cheese’s, among many others. DFI remains a key component of The Foland Group, adding custom merchandise, and merchandising planning capabilities.
Having just assisted Dennis Foland Inc in acquiring two additional light industrial warehouses for lease totaling 99,971 sq ft, the tenant entrusted the Lee Chang Group to represent them on the renewal of their leases at 1750 S Pointe Ave and 1500-1510 Hellman Ave. 1750 S Pointe Ave is a 83,580 sq ft light industrial warehouse with 28’ minimum clear, dock high loading and a fenced yard. 1500-1510 Hellman Ave is a 140,328 sq ft light industrial warehouse with 24’ minimum clear, dock high loading and a fenced yard.
The tenant was considering consolidating these two warehouses to gain efficiency. However, after reviewing the available properties to lease on the market, Dennis Foland Inc., decided to renew their lease based on lack of inventory and moving expenses.
The Lee Chang Group initiated negotiations with the landlord and after a few rounds of negotiation was able to come to terms that were favorable to both parties.
Light Industrial Warehouse Details
- Tenant/Buyer: Dennis Foland, Inc.
- Landlord/Seller: VIC-VIN Enterprises, LLC
- Property Type: Light Industrial
- Region: Inland Empire West
- County: San Bernardino County
- City: Ontario, CA
- Property Size: 140,328 square foot
- Clear Ceiling Height: 24 ft
- Parking Spaces: 210
- Dock-High Doors/Loading: 8
- Drive In / Grade-Level Doors: 2
- Closest Freeways/Highways Exposure: Pomona Freeway (CA-60) and San Bernardino Freeway (I-10)
- Closest Ports: Port of Long Beach
- Value: $3,607.965.84
- Terms: 60-month lease
- NAI Capital, Lee Chang Group Agents: Richard Lee, Nicholas Chang, Justin Kuehn
- Property Address: 1500-1510 Hellman Avenue