FONTANA, CA—Pacific Industrial, a Long Beach-based investment firm with a focus on industrial real estate, says it has signed a 700,000 square foot-plus lease with LG Electronics USA for a new west coast LG distribution center.
LG's new state-of-the-art distribution center for consumer electronics and home appliances will occupy Building I of Pacific Industrial's 1.5-million-square-foot industrial campus known as the Sierra Pacific Center, located off the 210 Freeway and Sierra Avenue in Fontana.
The 745,000-square-foot lease, signed one month prior to building completion, represents one of the largest leases executed in Fontana in the past decade. Paul Earnhart and Steve Haston, both principals with the Ontario office of Lee & Associates represented Pacific Industrial. James Frank and Chuck Belden of Cushman & Wakefield represented LG Electronics USA in this transaction.
Dan Floriani, co-founder of Pacific Industrial, explained, “We set out to build a best- in-class industrial campus in the hopes of attracting a company of exactly LG's caliber. It's a great result for all parties and yet another incredible company to locate within the City of Fontana.”
Haston commented, “The 210 corridor has emerged as one of the most active submarkets in the Inland Empire. Pacific Industrial went above and beyond to construct a building with the best specifications in the market and, as a result, they attracted a top tier tenant before the building was completed.”
Pacific Industrial is simultaneously under construction on an immediately adjacent 750,000 square foot sister building, which is scheduled to be complete and available for lease in January 2016.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
