Commercial real estate news releases from Avison Young
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young negotiates full-building industrial lease with manufacturing company totaling 139,000 sf in Jurupa Valley, CAJanuary 10, 2022
Ontario, CA – Avison Young, the world’s fastest-growing commercial real estate services firm, has negotiated a 120-month, 139,000 square-foot (sf) full-building industrial lease at 10220 San Sevaine Way in Jurupa Valley, CA on behalf of the landlord, San Diego-based real estate investment and management firm, Stos Partners.
Avison Young Principals Stan Nowak and Cody Lerner who are based out of the firm’s Inland Empire office, represented the landlord. The tenant, The Cary Company, was represented by John Boyer of NAI Capital.
The Cary Company, who is headquartered in Addison, IL, provides a wide range of containers, warehouse supplies, spill control products and filtration solutions. The company will expand its manufacturing operations in spring 2022 to this facility and relocate from its smaller, 30,000-sf location in Jurupa Valley as part of a strategic expansion.
“Manufacturing assets are extremely complicated to understand current market lease values due to the condition of each property and sourcing comps that support that product type. Our team knew that there were limited available manufacturing plants throughout Southern California. Ultimately, we were able to create an ideal lease that was favorable for both the ownership and tenant,” said Lerner
“With a focus on attracting a high-quality manufacturing tenant with limited/low truck traffic impact to the community, we are very excited to have secured the right company and use for the project. In achieving this, we not only satisfy the business goals of the principal parties, but this deal serves to accomplish the goal of the local municipality to bring more quality jobs to the City of Jurupa Valley,” said Nowak.
Built in 1986 and situated on 8.24 acres, the asset includes ±7,000 square feet of office space, 16 docks, 3 drive-in doors and 1600 AMPS of power. The property also features a large, secured storage yard with drive around truck access and a long truck queuing lane.
Last month, Nowak and Lerner brokered the $19.8 million acquisition of the vacant 10220 San Sevaine Way asset and worked to quickly identify and negotiate the new lease.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
Follow Avison Young
For more information:
Darcie Giacchetto, Media Relations Specialist – Southwest: +1.949.278.6224