Western Post Leased Over 2M SF of Industrial Space in Inland Empire in Q3
By Nick Trombola October 23, 2024 7:32 pm
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Global supply chain logistics firm Western Post expanded its footprint by 2 million square feet in Southern California’s Inland Empire in the third quarter, helping to renew the region’s leasing activity after a couple of years of slower growth.
Western Post, which focuses on global supply chain logistics, has signed three leases with major developers Prologis (PLD) and Stockbridge Capital for its new space, according to a recent quarterly market report by Colliers (CIGI).
Prologis provided the largest spot with 927,696 square feet at 1979 Renaissance Parkway in Rialto, which Prologis concisely dubs the Prologis Rialto I-210 Distribution Center 8, as well as 577,905 square feet at 12377 San Bernardino Avenue in Fontana, which the landlord calls Prologis Kaiser Distribution Center 2. The lease deals are for 10-year terms, and both facilities are now fully leased to Western Post.
Western Post also signed for 599,690 square feet at 7776 Tippecanoe Avenue in San Bernardino for a five-year term with Stockbridge. The landlord acquired the building in 2022, according to property records.
Colliers’ Mark Zorn and Cory Whitman represented Prologis in the Rialto deal, while Lee & Associates’ Michael Chavez and Bill Heim represented the firm in the Fontana deal, a person familiar with the deal told Commercial Observer. Western Post was represented in all of the deals by SVN Vanguard’s Anthony Ying, though it was unclear who represented Stockbridge.
Western Post had previously sublet about 200,000 square feet at the San Bernardino facility from housewares manufacturing firm Gibson Overseas, the source said, though it ultimately opted to expand and lease the building outright from Stockbridge.
Representatives for Stockbridge and Western Post did not immediately respond to requests for comment.
Third quarter leasing activity in the Inland Empire exceeded 13 million square feet for the first time in ten quarters, according to Colliers’ report. Yet that demand comes alongside a noticeable dropoff in projects under development in the region, with only about 12 million square feet in the pipeline this quarter compared with well over 27 million in the third quarter of 2023.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
