Wells Fargo Leases Bulk of Opus Project

SAN BERNARDINO, CA-Wells Fargo Home Mortgage has signed a 10-year lease with developer Opus West for 245,000 sf of the 283,000-sf Northpointe office project in what is believed to be the largest office lease ever in the Inland Empire. Terms of the deal were not disclosed, but total lease consideration for the entire building is anticipated to be at approximately $80 million when the property is fully leased.

Wells Fargo has embarked on a phased occupancy of the space, which will be the new regional headquarters for the company. Developed by Opus West as a build-to-suit, the project is set on 24 acres on the northwest corner of Tippecanoe Avenue and Hospitality Lane in San Bernardino’s Hospitality Lane Corridor. It is one of the largest office build-to‑suit developments in the Inland Empire.

Wells Fargo will initially consolidate more than 2,000 regional workers in one central location at the new Northpointe offices, including employees who previously worked at branch offices in Riverside and San Bernardino. According to Fred Wilson, city manager of San Bernardino, the move by Wells Fargo underscores the growth of professional jobs and steadily climbing household income in the Inland Empire.