 |
| Frank Geraci |
Ontario, CA – Voit Real
Estate Services has successfully completed the lease of a 302,080 square-foot
industrial/R&D facility in Ontario, California on behalf of Nellson, LLC, a
leading full-service bar and powder nutrition provider in North America.
Frank Geraci,
Executive Vice President of Voit’s Inland Empire office, represented Nellson as
the lessee and IDI Gazeley as the lessor in the $30 million transaction.
“Nellson was planning a
move from its four-building aging campus in Irwindale, and was seeking a modern
property that could deliver optimal efficiency, increased capacity, and
expansion space to support future growth,” explains Geraci, who notes that
competition is high for industrial space throughout the Inland Empire market.
“Industrial vacancy rates
remain in the low five percent range in spite of the influx of over 77 million
square feet of new construction in the past two years,” he says. “Tightening industrial markets and rising rents
in neighboring coastal regions continue to drive businesses inland, resulting
in increased demand for premium space in all size ranges in the Inland Empire.”
Geraci notes that securing
this facility for Nellson reflects Voit’s ability to meet the needs of both
tenants and landlords.
“By sourcing this
off-market opportunity, we were able to provide Nellson with a high-profile,
centrally-located facility, while simultaneously securing a high-quality tenant
on behalf of the property owner,” affirms Geraci. “Further, we were able to identify a property
in close proximity to the client’s Irwindale operations, enabling Nellson to
retain its experienced local workforce as it relocates.”
 |
| Jamie Better |
“We plan to create a
state-of-the-art manufacturing facility to better serve the rapidly evolving
needs of our customers,” Better says.
“After careful review, our leadership team concluded that leasing and upgrading a new facility would help us reach that objective most effectively. Our goal is to have the new facility fully operational by the first quarter of 2018.”
“After careful review, our leadership team concluded that leasing and upgrading a new facility would help us reach that objective most effectively. Our goal is to have the new facility fully operational by the first quarter of 2018.”
Nellson plans to build out
a state-of-the-art R&D lab to support corporate R&D efforts, commercial
scale-up, and testing of customer formulations; and will create segregated
production lines that provide brand confidentiality, maximum allergen control,
food safety, and efficient sanitation, as well as flexible scheduling.
Built in 1989, the Ontario
industrial facility features 25-foot clear height ceilings, 43 dock-high
loading doors, ample parking spaces, and an ESFR sprinkler system. The property
offers immediate access to the 10, 60, and 15 freeways, as well as the Ontario
International Airport for transportation and distribution.
The property is located at
1000 S. Etiwanda Ave, Ontario, California.
For a complete copy of the company’s news release,
please contact:
Katie Kea / Jenn Quader
Brower, Miller & Cole
(949) 955-7940
No comments:
Post a Comment