COMMERCIAL REAL ESTATE TRANSACTION ALERT
Richard Lee, SIOR, Nicholas Chang, CCIM, SIOR, Justin Kuehn and Sione Fua with NAI Capital’s Ontario office represented Morgan Stanley Real Estate’s Prime Property Fund, one of the largest Industrial Core Property Funds in North America, in the long-term lease of the 178,523 square foot Bridge Point Ontario I building in Ontario, California to Western Post (US), Inc.
Wilson Tran of DAUM Commercial represented the tenant.
The E-commerce company Western Post is expanding its operation. The company runs a distribution facility in Rancho Cucamonga, California, and just leased a 300,000 square foot warehouse in New Jersey.
Bridge Point Ontario I, located at 4600 E. Wall Street is part of the two-building Bridge Point Ontario complex, a new state-of-the-art 268,753 square foot multi-building distribution development situated on 12 acres that completed construction in October 2020. Developed by Bridge Development Company, the complex was forwarded to Morgan Stanley Real Estate while under construction.
In October of this year, NAI Capital’s Lee Chang Kuehn Fua team negotiated the lease of Bridge Point Ontario II to NeilMed Pharmaceuticals. With the lease of Bridge Point Ontario I, the complex is now 100% leased.
Bridge Point Ontario I features I-15 Freeway frontage and sits on 7.85 acres in the heart of the Inland Empire’s West submarket, one of the fastest-growing and most dynamic industrial markets in Southern California. The building features a 10,000 square foot two-story office, an open warehouse area with 32′ clear height ceilings, 52′ x 60′ column spacing, and 23 dock high loading doors. The complex has immediate access to Interstate Highways 15, 10, and the 60 Freeway and is just two miles from the Ontario Airport, FedEx, and UPS hubs.
“Our client, Morgan Stanley Real Estate is pleased to welcome Western Post’s distribution network to the Bridge Point Ontario complex,” said Lee, who led the NAI Capital team in the negotiation. The prompt leasing of Bridge Point Ontario underscores the demand for high-quality distribution centers in the Inland Empire’s tightening western submarket where there is a real lack of inventory, especially of brand-new industrial warehouse space offering freeway frontage. We are pleased to have represented our client in the successful leasing of their acquisition.”