Supply Chain Sourcing Company Signs 143K-SF Industrial Lease in Southern California
By Nick Trombola December 4, 2023 2:47 pm
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Multinational sourcing company H Global Commerce (HGC) is expanding its operations in Southern California.
The company signed a six-year, 142,556-square-foot warehouse lease at 5401 Jurupa Street in Ontario, Calif. HGC will move into the single-tenant space, which will serve as its new American headquarters, in March 2024.
CBRE (CBRE) arranged the lease on behalf of the tenant and announced the deal Friday, but did not disclose the value of the agreement.
“H Global Commerce’s warehouse expansion reflects their thriving business in the West,” CBRE associate Andrew Chaffee said in a statement. “Los Angeles and Long Beach port activity has steadily improved since the labor negotiations of early 2023, benefitting Pacific importers and distribution operations.”
The warehouse is about a mile east of Interstate 15. The building’s landlord, TA Realty, was represented by Stream Realty.
Industrial leasing activity in the Inland Empire has continued to normalize to pre-pandemic levels as the growth of the last few years tapers off, according to a third-quarter market report by CBRE. Vacancy in the region increased by 80 basis points to 3.5 percent, which is in line with the rates of 2018 and 2019.
Net absorption meanwhile remained positive with 2.19 million square feet of newly occupied space.
In other recent Southern California industrial news, Harbor Associates and Evergen Equity agreed to pay $55 million for a 126,000-square-foot industrial site in Los Angeles’ South Bay.
Nick Trombola can be reached at NTrombola@commercialobserver.com.
