Thursday, December 2, 2021
Commercial Real Estate Transactions

Leading 3PL Provider Signs Nearly 400,000-Square-Foot Lease at Industrial Facility in the Inland Empire

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COMMERCIAL REAL ESTATE TRANSACTION ALERT

Newmark announces it has negotiated a lease on behalf of Kenco Logistics, one of North America’s leading third-party logistics (3PL) providers, at Perris Gateway Commerce Center in Perris, CA.

Newmark’s Executive Managing Directors Ron Washle and Mark Kegans, along with Jimmy Glascock of JDK Real Estate, represented the tenant, Kenco Logistic Services. 

The building, located at 1301 Harley Knox Boulevard, totals 397,351 square feet and features a 4,650-square-foot speculative office, 32-foot clear height, a large, secured yard with excess auto and trailer parking, 49 dock high and two grade level loading doors and an ESFR sprinkler system. Situated at a signalized entrance and exit, the property provides immediate access to I-215 and SR-60 Freeways. 

This location will serve as a new multi-client distribution center, enabling Kenco to support customers’ supply chains through the latest solutions and services. Its proximity to Los Angeles and scalable size made the facility an ideal fit to drive significant growth. 
The Inland Empire industrial vacancy rate hit a record low in the first quarter with robust leasing activity from the last nine months of 2020 carrying over into 2021, according to Newmark Research. Construction activity was up 36.2 percent from year-end 2020, and quarterly net absorption was substantially higher than the 20-year average of 4.0 million square feet. With the post-pandemic labor market recovery and swift growth of e-commerce sales, the forecast for a big-box logistics corridor like the Inland Empire is highly bullish.

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Inland Empire Business Journal
The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.