Ontario, Calif. – Avison Young, a global real estate advisory firm, announced today the successful, full-building lease renewal of a Class A 205,589-square-foot industrial facility at 100 Walnut Avenue in Perris, Calif. (Inland Empire East), on behalf of the landlord. The tenant, GPA Logistics, has committed to a 65-month lease renewal, demonstrating strong retention in today’s competitive and shifting market conditions.

Avison Young Principal Cody Lerner and Associate Kameron Graylee, who are in the firm’s Inland Empire office, represented the landlord, a fund managed by Ares Management, a leading global alternative investment manager. The tenant, GPA Logistics, was represented by Dillon Dummit of Savills. Ares Industrial Management manages the property.

Constructed in 2022 on a 9.6-acre parcel, the building features 36-foot clear height, 27 dock doors, and 1,200 amps of power. GPA Logistics has occupied the facility since its delivery and will continue operations through the renewed lease term. GPA has been at the property since it was built.

This lease renewal comes at a time when the Inland Empire East market is experiencing significant headwinds. Elevated vacancy rates, increased new supply, and greater scrutiny on tenant credit and operational needs have created a more selective and cautious leasing environment. In this context, securing a full-building, long-term renewal with a quality tenant is both rare and notable.

“In today’s market, large-scale renewals like this are a major achievement,” said Lerner. “It reflects the quality of the asset, the strength of the Inland Empire East location, and our team’s ability to deliver results amid more challenging conditions.”