Amazon Signs Another Big Warehouse Lease in Southern California
The e-commerce giant has signed at least three 1 million-square-foot industrial leases this year
By Greg Cornfield May 17, 2024 3:30 pm
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The king of e-commerce has expanded again with another warehouse lease over 1 million square feet in Southern California.
Amazon (AMZN) signed a new lease for nearly 1.2 million square feet of Class A industrial space in the Inland Empire with CapRock Partners, according to a mid-quarter report released Friday by Cushman & Wakefield.
The property spans over 60 acres at 3945 Lytle Creek Road in Fontana, Calif., according to leasing marketing materials. The site is just off the Sierra Avenue exit on Interstate 15, about 12 miles northwest of Downtown San Bernardino.
The deal comes after Amazon signed two other leases for more than 1 million square feet each in the Inland Empire in the first quarter, adding to an already unrivaled tenant footprint. Together, the three leases make up about 18.5 percent of the 17.3 million square feet of leases signed in the region so far in 2024, according to Cushman & Wakefield’s report.
Amazon’s moves also buck current market corrections for industrial real estate, as the region’s vacancy rate rose from around 1 percent in 2021 to 6.3 percent today, per the brokerage’s report.
Representatives for CapRock and Amazon did not immediately return requests for comment or more information on the lease.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
