TA Realty Lands 143K SF Industrial Tenant In Ontario
H Global Commerce, which sources home goods globally, signed a six-year, approximately 143K SF lease at 5401 Jurupa St. in Ontario. The company will move into the space, which will serve as its American headquarters, in March.
CBRE's Andrew Chaffee, Wes Jones and James Toomarian negotiated the lease on behalf of H Global Commerce. TA Realty owns the property.
“Their commitment to an above-market lease term of six years underlies this facility allowing them to combine their current Inland Empire warehouse and yard locations into one efficient space,” Chaffee said in a release from CBRE.
TA Realty was represented by Stream Realty's Stefan Pastor and Brad Yates.
Ontario is a major Inland Empire submarket for industrial space, with an estimated 222M SF of warehouses, including the 4.1M SF one that will house Amazon goods. There will be more. Earlier this year, USAA Real Estate and McDonald Property Group beat an appeal that would have stopped their plans to build nine warehouses on 200 acres near the Ontario International Airport.
Vacancy in the IE rose 60 basis points year-over-year in the third quarter, pushing total vacancy to 4.6%, according to a report from JLL. There are 23.3M SF under development in the market, nearly half of which has been pre-leased.