(Read more on the industrial market.)
ONTARIO, CA-Uline, a privately held distributor of shipping, industrial and packing materials, has signed a 10-year lease for a 750,000-sf warehouse and distribution building at Majestic Airport Center. Kent Valley, Majestic Realty Co. senior vice president, tells GlobeSt.com that Uline will be moving out of smaller quarters in Orange County and is expected to make the move into the Majestic project in March.
The new Uline facility is at the corner of Jurupa Street and Turner Avenue, adjacent to the Ontario International Airport and the Ontario UPS center. It is one of two buildings at the Majestic Airport Center, an 85-acre, 1.5-million project that City of Industry-based Majestic developed about 10 years ago.
Valley, along with Majestic Realty's Kevin McCarthy and Trent Wylde, handled the transaction for Majestic, with Dave Desper of CB Richard Ellis in Newport Beach representing the tenant. Uline is based in Waukegan, IL and has grown to more than 2,000 employees since it was established in 1980.
Valley tells GlobeSt.com that Uline was one of a number of companies that showed interest in the space immediately after the building went on the market, a sign of the continued strong demand for large warehouse buildings in Southern California. The Majestic senior vice president notes that the 750,000-sf building was considered quite large when it was developed, but nowadays warehouses are even larger, including three buildings of more than one million sf each that Majestic is developing in Moreno Valley, Atlanta and Dallas.
Uline will be making a number of changes to the Ontario building, which it plans to operate as its Southwest regional distribution center. Among the improvements will be the addition of 30,000 sf of high-end office space and a new shipping office, the installation of a sophisticated conveyor and distribution system, and a new air conditioning system.
Terms of the Uline lease were not disclosed. Asking rates for the space run about 46 cents per sf per month, triple-net.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
