FONTANA, CA-Multi-brand consumer-products company Dorel Juvenile Group has renewed its 528,000-square-foot warehouse/distribution lease at 9950 Calabash here in a long-term transaction between the manufacturer and the building owner. Montreal-based Dorel has been located at the property since 2006 and occupies it in full.
The transaction was orchestrated by industrial real estate specialists Chuck Belden and Scott Evans of Cushman & Wakefield Inc.’s Ontario, CA, office as North American representative for the tenant, along with Lloyd Cooper of the firm’s Montreal office. The owner is an institutional pension-fund advisor, executive director Belden tells GlobeSt.com. He adds that the lease renewal is for five years in the building, which was completed in February 2005 and purchased by the current owner in April 2008. Belden could not release other details of the lease agreement.
“This facility and the Inland Empire region in general provide an ideal base for this type of large-scale distribution operation,” says Belden. “Beyond proximity to the largest port system on the West Coast and an excellent highway infrastructure, companies doing business here can find high-quality industrial product and a strong labor pool.”
As the economic recovery continues, the aforementioned factors have made the Southern California industrial market among the healthiest in the country. In fact, the Greater Los Angeles submarket topped the nation in leasing activity last year, with 36.7 million square feet in transactions. Its vacancy rate of 4.9% is the lowest in the country.
Belden says that renewal comes at an advantageous time, with the strengthening market placing upward pressure on rental rates. “Still, we were able to negotiate attractive terms—at a rate that may soon be below market—for our client.”
Dorel manufactures and distributes car seats, strollers, play yards, high chairs, infant health and home-safety products and more. Its well-known brands include Safety 1st, Cosco, Juvenile, Quinny, Maxi-Cosi, and Hoppop. The Calabash distribution center handles the company’s inbound product coming through the ports of Los Angeles and Long Beach, for distribution throughout the US.
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.
Carrie Rossenfeld
Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.
