Two Buildings Leased Totaling 832,063 Sq. Ft. in Ontario
SARES•REGIS Group signed two companies to leases valued at $17 million for two warehouse and distribution buildings totaling 832,063 square feet in Ontario, Calif.
Pacific Coast Warehouse, a third-party logistics company, agreed to a seven-year lease of a 411,548-squre-foot building at 3601 Jurupa Street, said Michael Wood, director of leasing for SRG of Irvine, Calif., which manages both buildings for landlord Ontario Industrial Partners.
Dal-Tile Corporation renewed its lease of a 410,515-square-foot building at 3625 Jurupa Street for 64 months, Wood said. The tile manufacturer and distributor has been an original tenant at the property since the buildings were developed by SRG in 1996.
In the Pacific Coast Warehouse lease, Tim O'Rourke and Barry Hill of Jones Lang LaSalle represented the tenant. Steve Bellitti and Tom Taylor of Colliers International represented the landlord.
Sam Foster of Jones Lang LaSalle represented Dal Tile. Wood and Vince Ciavarella, president of SRG's Commercial Property Management Services Division, represented the landlord.
SARES•REGIS Group is one of the leading developers and managers of commercial and residential real estate in the western United States. Currently, the company has more than 3 million square feet of commercial industrial property in the entitlement process and 1,900 residential units in pre-construction and development. SARES•REGIS Group has a combined portfolio of owned and fee-based assets under management valued at more than $4 billion, including 15 million square feet of commercial and industrial space and 16,139 rental apartments. Since its inception the company has acquired or developed approximately 44 million square feet of commercial properties and 20,000 multifamily and residential housing units.