Invesco Lands Full-Building Inland Empire Lease
An auto parts distribution company will occupy the facility.
Invesco has leased the entirety of a 522,267-square-foot industrial building in Chino, Calif., in the state’s Inland Empire West.
DAUM Commercial Real Estate Services, in collaboration with Lara CRE Group, represented the tenant, an unidentified auto parts distribution company. The lease is valued at more than $42 million.
The property is at 16380 Euclid Ave., also known as Building 3 in the Chino South Industrial Center. The Class A property was completed in 2014 and is designed to accommodate large-scale logistics and distribution operations. It features a 32-foot clear height, extensive dock-high loading and a large truck court.
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The facility’s location provides connectivity to major Southern California transportation corridors, including State Route 60, State Route 71, Interstates 10 and 15, and State Route 91.
DAUM Executive Vice President and Principal Gus Andros represented the tenant, alongside Lara CRE Principals Nathan Lara, Andrew Lara and Jack Nersesian, plus Founder Rudy Lara.
Colliers Senior Executive Vice President Steve Bellitti, Vice Chair Tom Taylor, Executive Vice President Joey Jones, and Vice President Evelyn Manning represented Invesco.
Big boxes in the Inland Empire
Direct vacancy of industrial space in Chino was a tight 3.2 percent in the first quarter, according to a report from DAUM.
In early May, Bridge Logistics acquired a 68-acre parcel that’s part of a 245-acre master-planned development in Jurupa Valley, Calif., on which it plans to develop a 1.5 million-square-foot cross-dock logistics facility. The seller was DO Capital Group.
Later that month, Premier Logistics Properties and Penwood Real Estate Investment Management acquired two infill big-box warehouses totaling nearly 1.5 million square feet in Rialto, Calif. Eastdil Secured arranged the deal on behalf of the seller, Link Logistics, and KBC Capital Partners represented the buyers. The two buildings, at 1568 and 1660 N. Linden Ave., are fully leased to Amazon.
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