By Press Release
JPMorgan Chase & Co. Awards Chaffey College Foundation $100,000 for Manufacturing Career Training
Chaffey College students will receive training in advanced manufacturing thanks to a $100,000 grant from JPMorgan Chase & Co. to the Chaffey College Foundation.
JPMorgan Chase awarded the grant during a Chaffey College Governing Board meeting in Chino on Jan. 23.
“This generous grant provides us with the tools to transform the lives of many students and meet the increasing workforce needs of this region,” said Chaffey College Superintendent/President Henry Shannon. “We are very grateful to JPMorgan Chase for this incredible gift.”
The grant will support as many as 100 trainees through the college’s Industrial Technical Learning Center (InTech) career hub, which prepares students for successful careers in the field of advanced manufacturing by providing industrial electrical and technical training, along with soft skill instruction and workshops. InTech plans to recruit heavily among 18 to 24-year-olds and women for the trainee spots, but the InTech program is open to everyone.
Up to 30 students will be placed into paid internships, which are supported by the James Irvine Foundation and California Apprenticeship Initiative. The remaining 70 students will participate in on-site employer visits or job fairs with the goal of being placed into an internship or full-time employment.
“InTech trains its students for rewarding careers thanks to the generous donations of community partners such as JPMorgan Chase. We are proud to work with JPMorgan Chase to improve our workforce and the region’s economy,” said Sandra Sisco, Chaffey College economic development director.
Sarah Bowles, JPMorgan Chase & Co. vice president of global philanthropy for Southern California, said the company believes in helping to ensure the best opportunities remain accessible for residents of the Inland Empire.
“Our grant will help local students gain invaluable skills and training, and prepare them for successful advanced manufacturing careers right here at home,” she said.
U.S. manufacturing is facing an unprecedented talent shortage as the economy continues to grow and the aging workforce looks to retire. A 2018 study by The Manufacturing Institute showed that there will be an estimated 2.4 million jobs that will go unfilled by 2028 due to a lack of skilled workers available to take those positions.
For general information or to learn about qualifications to participate in one of InTech’s training programs, contact the InTech Center at (909) 652-8488.
By Press Release
Stockbridge Acquires 540,478 SF Inland Empire Industrial Portfolio for $142MM
San Francisco based Stockbridge acquires 100% leased assets in premier IE West location
Cushman & Wakefield’s EDSF also sources acquisition financing for transaction
Cushman & Wakefield announced the firm has arranged the sale of a core industrial portfolio totaling 540,478 square feet in Southern California’s premier Inland Empire West (IEW) submarket. The portfolio consists of two freestanding Class A buildings located a few miles apart at 3351 E Philadelphia St and 4450 E Lowell St in the city of Ontario. The buildings are 100% leased to prominent tenants in the distribution and retail industries.
San Francisco based Stockbridge acquired the two-property portfolio from Principal Asset ManagementSM a global financial and investment management firm. The portfolio sold for $142.25 million.
Jeff Chiate, Jeffrey Cole, Rick Ellison, and Matt Leupold of Cushman & Wakefield’s National Industrial Advisory Group—West represented the seller in the transaction. The firm’s Phil Lombardo, Chuck Belden and Andrew Starnes also provided leasing advisory.
Additionally, a Cushman & Wakefield Equity, Debt & Structured Finance (EDSF) team of Rob Rubano, Brian Share, Joseph Lieske, Max Schafer, and Becca Tse collaborated in sourcing acquisition financing for the transaction.
“Stockbridge has acquired an institutional-quality industrial portfolio with a phenomenal infill location combined with strong tenancy and premium distribution features and functionality. Both properties have maintained a historical occupancy of 100% for nearly a decade speaking to the tenant demand for industrial buildings of this quality and location,” said Jeff Chiate, Executive Vice Chair. “Additionally, with current rents below market rate, the buyer has a compelling mark-to market opportunity along with existing durable cash flow, providing a variety of value-add strategies.”
The properties offer convenient access to Southern California’s robust freeway network and other vital nodes of transit such as Ontario International Airport, the Los Angeles & Long Beach Ports, and LAX International Airport (60 miles). Access to a deep labor pool and robust consumer population also makes the region a superior industrial location.
According to Cushman & Wakefield’s latest industrial market report, the Inland Empire West submarket had a vacancy rate of 5.4% in Q1 2024, representing the tightest submarket in the broader Inland Empire market. Additionally, IEW achieved nearly 1 million square feet of positive net absorption (occupancy growth) in the first quarter of 2024.
By Press Release
Stater Bros. Charities and Reyes Coca-Cola Bottling Give Back to Military Families
Stater Bros. Charities, the philanthropic arm of Stater Bros. Markets, partnered with Reyes Coca-Cola Bottling again this year for their Give Back program during National Military Appreciation Month. The program ran for the entire month of May, during which Reyes Coca-Cola Bottling committed to donating $0.25 per eligible product purchased to the Bob Hope USO. Reyes Coca-Cola Bottling donated $15,000, and Stater Bros. Charities matched their donation for a total contribution of $30,000.
A check presentation occurred during a K-EARTH 101 radiothon benefiting the Bob Hope USO. The radiothon took place at the Bob Hope USO at LAX (Los Angeles International Airport) on June 29, 2023, where Stater Bros. Charities and Reyes Coca-Cola Bottling presented Bob Hope USO with a $30,000 check.
Bob Hope USO’s mission is to strengthen America’s military service members by keeping them connected to family, home and country, throughout their service to the nation. The Give Back program is a unique opportunity to show gratitude and support to the brave men and women who risk their lives for our freedoms and to care for their families while they are away from home on deployment.
“Stater Bros. Markets has a long history of supporting veterans, service members, and their families,” said Danielle Oehlman, Director, Stater Bros. Charities. “We are so pleased to partner with our friends at Reyes Coca-Cola Bottling and the USO to give back to those who have given so much for us.”
Lorin Stewart, President, USO West Region, said, “We are deeply grateful to Stater Bros. Charities and Reyes Coca-Cola Bottling for being sustaining partners of the USO. The Give Back program embodies the essence of the USO mission by enabling the community at large to come together to support and give thanks to our armed forces and their brave military families in an impactful way.”
Funds will support the Bob Hope USO and USO San Diego Center operations, including programs and services that strengthen the social, mental, physical, and emotional well-being of local military service members, their families, and their communities.
By Press Release
BDK Logistics Intelligence Fully Leases 114,190 SF Industrial Facility in Corona, CA
Cushman & Wakefield represents landlord in lease in SoCal’s Inland Empire
Cushman & Wakefield announced that BDK Logistics Intelligence, Inc. has signed a lease for an entire 114,190-square-foot industrial facility at 1161 Olympic Drive in Corona, California. Situated in Southern California’s renowned Inland Empire, the building is owned by Monterey Rancho Mirage, LLC, which was represented by Brett Lockwood and Rick Ellison of Cushman & Wakefield in the transaction.
“We are pleased to welcome BDK to the property as a quality industrial tenant that is expanding its presence in the market, which it also currently occupies multiple warehouse facilities,” said Director Brett Lockwood. “Our client was instrumental in helping this deal transact as there were many variables that needed to be navigated which led to this lease coming together quickly and successfully.”
1161 Olympic Drive is a quality freestanding building situated on ±4.8 acres and features 20 dock high loading doors. The property is conveniently located off Interstate 15 near the confluence of SR 91 and is proximate to the extensive freeway network traversing the entire Greater Los Angeles region and into other major markets in and out of state.
According to Cushman & Wakefield’s latest Q2-2023 quarterly report, the Inland Empire industrial market posted an overall vacancy of 3.4% and has recorded more than 2.7 million square feet of positive net absorption through the first half of 2023.
-
Sports Business3 months ago
City of Ontario Announces “Ontario Sports Empire” as Name for Largest Multi-Use Sports Complex on West Coast
-
Philanthropy & Nonprofits1 month ago
United Way Unveils New Brand Strategy to Reflect Its Transformative Approach Forward
-
Business2 months ago
Inland Empire Chamber President Edward Ornelas, Jr. Named Finalist for Spirit of the Entrepreneur Awards
-
Food & Lifestyle3 months ago
Amazon Fresh Opens First San Bernardino County Location in Fontana, Elevating Grocery Shopping in the Inland Empire
-
Travel & Tourism3 months ago
Ontario International Airport awarded $2.5 million from FAA to reduce emissions, increase sustainability
-
Business2 weeks ago
Inland Empire Celebrates Entrepreneurial Excellence at Spirit Awards Gala