Shea Center Tenants Ink $27M in Leases

[IMGCAP(1)]ONTARIO, CA-Three tenants at Shea Center have signed leases for more than 1.3 million sf that are valued at an aggregate of more than $27 million, according to CB Richard Ellis. They include Dorel, the largest tenant in the four building business park, which renewed its 623,630-sf lease for an additional five-year term; Emser Tile, which renewed its lease for 432,397 sf, and Cooper Lighting, which renewed its 244,947 SF lease, both for Shea Center, located at 5200-5400 Shea Center Dr., is owned by Aliso Viejo, CA-based Shea Center Ontario LLC. The property owner was represented in all three deals by CBRE’s Frank Geraci and Walt Chenoweth.

Chenoweth was also one of the brokers on another recent Inland Empire lease, in which ResMed, a San Diego County-based developer of products for sleeping and breathing disorders, has signed a lease for 130,000 sf of distribution space at Chicago-based Ridge Property Trust’s Centerpointe Business Park in Moreno Valley. Chenoweth represented Poway-based ResMed, which expects to occupy the space in October and to operate it as its West Coast distribution center to serve customers throughout the southwestern US. Ridge Property Trust represented by Jeff Ruscigno of Lee & Associates and Jim Panting of Commercial Realty Advisors.