Ricoh Moves to Prologis Warehouse in Inland Empire
The 374,000-square-foot property will be used for light assembly and distribution of copiers and supporting products and parts
It’s been a big week for Southern California’s industrial real estate market and for one of its most prominent landlords, Prologis.
The San Francisco-based firm secured a new tenant — Ricoh USA — for 373,771 square feet in the red-hot Inland Empire. The 62-month lease is valued at about $13.23 million. Earlier this week, Commercial Observer reported that Prologis acquired a 361,707-square-foot redevelopment site in Downtown Los Angeles for about $90 million, with plans to redevelop the property into an industrial complex.
Ricoh is relocating from Orange County to Prologis’ property at 1920 West Baseline Road, in the city of Rialto, in San Bernardino County. The building will be used for light assembly and distribution of copiers and supporting products and parts.
Also in San Bernardino County, an e-commerce distribution company signed a $79 million lease at Duke Realty’s 1.1 million-square-foot property in the city of Redlands. Further, Rockefeller Group sold the new Fontana Santa Ana Industrial Center for $54 million.
Colliers’ Mark Zorn and Cory Whitman, and Lee & Associates’ Michael Chavez and David Nguyen represented Prologis. Matt Moore, Wills Allen and Wes Hunnicutt of Newmark represented Ricoh USA.
Correction: This story has been updated with accurate broker representation. A previous version incorrectly stated Colliers represented Ricoh.