Inland Empire Keep Rolling With 600 KSF Beaumont Leases
- Apr 05, 2012
Leasing in the Inland Empire continued to pick up steam in the first quarter. CT Realty Investors recently leased nearly 600,000 square feet of space at its facilities at 520 Fourth Street and 415 Nicholas Road in Beaumont, Calif.
The tenants are a pair of third-party logistics providers: Updike Distribution Logistics, which specializes in warehousing, transportation and other supply chain services, and Hand Air Express. Teams from Lee and Associates’ Ontario, Calif., office arranged both leases. Together, the two transactions would add up to the Inland Empire’s biggest lease of the year so far.
Located at the confluence of two freeways, Interstate10 and California State Route 60, the facilities were completed in 2008 and were both vacant when CT Realty acquired it in August 2011. The two buildings, which are both LEED-certified offer 572,143 square feet of space between them. The larger of the two buildings provides 444,455 square feet of space with 84 dock doors, 32-foot minimum clear heights and 445 parking stalls with trailer storage. At 127,688 square feet, the smaller of the two industrial buildings offers 14 dock doors, 32-foot minimum clear heights and stalls for 128 vehicles.
When CT Realty acquired the two distribution centers, it also obtained 30 acres of fully entitled land that can accommodate an 611,000 square-foot cross-dock warehouse building. Construction of the third facility would roughly double the asset’s size to 1.2 million square feet.
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