Los Angeles, Calif., November 3, 2021 – Colliers announced the recent lease of a 244,958-square-foot industrial building in the West Inland Empire’s City of Ontario. Situated within Shea Center Ontario’s 1.8 million square foot, five-building distribution center, and just minutes from Ontario International Airport and Ontario Mills Mall, 5200 Shea Center Drive offers tenants a corporate headquarters style environment with high visibility from the 10 and 15 freeways. The property features 5,000 square feet of office space, a 30-foot ceiling clearance, T-5 warehouse lighting, 68 dock high doors, a cross-dock loading configuration, and fully secured concrete truck courts.
Representing Shea Properties, Colliers’ senior executive vice presidents Steve Bellitti and Thomas Taylor, as well as senior vice president Will Kim and vice president Joey Jones, negotiated a successful lease resulting in a total consideration of over $26 million. Shea Properties owns and operates approximately 10,000 apartment units and 6 million square feet of office, industrial, and retail space in California, Colorado, and Washington.
“We were successful in leasing this building prior to the current lease expiring,” Bellitti said. “It was imperative that we secure a timely agreement with an ideal tenant as the market’s demand for quality space continues to climb rapidly, and our approach proved advantageous for all involved.”
Considered the premier big-box market in Southern California, the Inland Empire continues to attract large distributors, warehousers, e-commerce companies, and others seeking to consolidate their operations into large, state-of-the-art facilities.
