CBRE and CenterPoint Properties announced the lease listing of a 1.63 million square-foot industrial facility in Ontario, Calif. In addition to its massive size and unique divisibility potential, the building sits on 94.39 paved acres.
The property is located at 5600 E Airport Road and includes 13,771 square feet of office space and abundant parking with 954 trailer spaces and 580 car stalls.
“We are incredibly excited about the opportunity to market this extraordinary property and convey it’s unparalleled advantages to the market,” said CBRE’s Dave Consani, Executive Vice President, Industrial Leasing. “The sheer size of the facility and acreage is incredibly rare in today’s landscape, and coupled with its superb location, makes this the premier infill asset in the Inland Empire.”
Southern California’s Inland Empire is recognized as one of the country’s most robust industrial markets, and over the past decade, the region has experienced explosive growth with record low vacancy and rising lease rates. Home to a variety of industrial and logistics industries including e-commerce, manufacturing and 3PL’s, this locale will continue to be a hub of industrial growth.
The COVID-19 pandemic has forced some states to impose strict stay-at-home orders that are adversely affecting many industries. This is leading the U.S. economy into a recession. Despite the downturn, robust fundamentals in the first quarter showcase that the U.S. industrial market was on solid ground prior to the COVID-19 pandemic, according to CBRE research. Although market conditions have shifted considerably since mid-March, there still is strong evidence of industrial sector resiliency.
“We expect the Inland Empire to continue its trajectory as one of the most dynamic industrial markets in the United States,” said CBRE’s Bret Quinlan, Executive Vice President, Industrial Leasing. “And now, we are excited to push forward with this unprecedented property, further elevating this region’s powerhouse industrial reputation.”