COMMERCIAL REAL ESTATE TRANSACTION ALERT
NAI Capital Commercial is pleased to announce the long-term lease of 3351 E. Philadelphia Street, a 203,408 square foot industrial site located in Ontario.
The Tenant, Banyan Imports was represented by Richard Lee, SIOR, Nicholas Chang, CCIM, SIOR, Justin Kuehn, and Sione Fua of the Lee Chang Kuehn Fua Group with NAI Capital Commercial’s Ontario office. Newmark represented the Landlord, Principal Life Insurance.
The free-standing distribution building is within the city’s foreign trade zone. Features of the property include +/- 4,780 square feet of combined office space, 29-foot dock high doors, a ground-level door with a truck ramp, a fenced and gated yard, 30’ minimum clearance, and immediate access to the SR-60 and I-15 freeways.
Kuehn noted, “Our client is a worldwide e-commerce company experiencing accelerated growth. Coming out of Anaheim, they were thrilled to see the cost savings moving out from Orange County to the Inland Empire.”
“Finding industrial property in a foreign trade zone can be incredibly beneficial for an import or e-commerce company. Most foreign-made parts, components, and merchandise may enter a zone without payment of US Customs duties, fees, and certain taxes,” added Kuehn.