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MORENO VALLEY, CA-Philips North America Corp. has leased nearly 230,000 sf at Los Angeles-based IDS Real Estate Group's Globe Distribution Center for an expansion of the Philips regional distribution center. According to Rob Fuelling, senior vice president of IDS, the North American unit of the electronics company signed a five-year lease valued at more than $5 million for more than half of the new Globe Distribution Center.
Philips is scheduled to move to the new space in September in a relocation from another Moreno Valley facility. The new IDS project is located on approximately 18.5 acres of land at 25300 Globe St.
Approximately 173,000 sf remains for lease at the new IDS project. The development is a concrete tilt-up facility featuring 32-foot minimum interior clearance, above standard trailer parking, 72 dock-high loading positions and access to the I-215 Freeway via major transportation routes.
Fuelling and Dan Sibson, also a senior vice president for IDS, along with Chuck Belden of Cushman & Wakefield, represented IDS Realty JV, the property owner. Philips was represented by Vince Tuminelli in the New York City office of CB Richard Ellis, assisted by Phil Lombardo and Sean Austin of Cushman & Wakefield.
The Philips lease was one of a host of new industrial deals signed in recent weeks as the Inland Empire industrial market continues to attract new users and expansions of existing tenants' facilities. In Mira Loma, for example, Grubb & Ellis reports that skateboard and snowboard retailer Active Wallace Group has signed a 10-year lease for a 103,061-sf industrial building at 12087 Landon Dr. for its corporate headquarters.
Active is slated to relocate in January to the building, which is situated near the new 215 Freeway four-way on/off ramp at Galena Street. Active Wallace, which sellsits merchandise online and through its 18 Active Ride Shop locations in Southern California, was represented by Randy Lockhart of the Ontario office of Grubb & Ellis.
The skateboard company will be consolidating from three locations in Ontario and will double its total space with the move. In addition to serving as a headquarters, the building will house the firm's warehousing, distribution, administration and sales operations.
Lockhart notes that Active has been expanding rapidly and that this facility willsupport that growth and future anticipated expansions. Over the next 18 months, the company plans to open an additional 22 retail locations, as well as continue to growits online business, he points out.
Terms of the lease were not disclosed. Building owner Vogel Properties Inc. was represented by Lee & Associates.
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