Prologis Scores Again in Inland Empire With Another Big Warehouse Tenant
In the past six months alone, the San Francisco-based firm has signed tenants to more than 1.14 million square feet of space in the submarket east of Los Angeles
By Greg Cornfield September 11, 2019 4:04 pm
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Prologis (PLD) has scored another big tenant for its warehouse and distribution facility in the Inland Empire, where demand for industrial space has been raging.
ONUS Global Fulfillment Solutions, a supply chain management firm, is expanding its footprint by signing to the full 217,258-square-foot logistics center at 1175 E. Francis Street in Ontario, Calif. It’s located between South Grove and South Cucamonga Avenues, near the Ontario International Airport.
Savills announced the lease and represented ONUS, but declined to disclose the terms. Both Prologis and their brokers at JLL (JLL) also declined to share additional information.
The lease adds to an active year in the Inland Empire for the prolific industrial firm, Prologis. Last month, Baby Trend took over a 450,000-square-foot distribution property after it signed a 10-year lease with Prologis in Fontana, Calif., and in the spring, Radial signed for a 475,000-square-foot property at a Prologis-owned site in Rialto, Calif.
The firm also teamed up with Stirling Development earlier this year to continue building out the Southern California Logistics Airport in Victorville in the Inland Empire, which is entitled for 60 million square feet of development.
Prologis is far from the only firm targeting the area for warehouse deals and leases, as the Inland Empire has been the capital submarket for industrial real estate in the country. In July, CBRE reported the submarket has continued to grow this year with strong development activity, demonstrating how desirable the market has become. And CBRE expects the rest of the year to be just as active, with more big-box deals scheduled to close.
The deal in Ontario is the second lease for ONUS is Southern California. The firm also leases a 180,000-square-foot warehouse and distribution center in Santa Fe Springs. Dillon Dummit and Jeff Cecil of Savills represented ONUS in the transaction. Prologis was represented by Patrick Wood and Scott Coyle of JLL.
