Newmark Knight Frank Brings Two New Tenants to Ontario Warehouse
Ontario, CA (July 2, 2019) — Newmark Knight Frank (NKF) has leased the entire Airport Distribution Center, located at 5700 E. Airport Drive in Ontario, to two tenants: Esperia Holdings, LLC and Technical Consumer Products, Inc. The 250,248-square-foot industrial building is located at the southwest corner of Airport Drive and Etiwanda Avenue.
NKF Executive Managing Directors Mark Kegans and Ron Washle represented the landlord, Alere Property Group, LLC in this transaction. Lee & Associates’ John Seoane represented Esperia Holdings, LLC for approximately 103,432 square feet of space. JLL’s Tim O’Rourke represented Technical Consumer Products, Inc. for approximately 146,816 square feet of space.
Having the capability to accommodate two tenants, the building worked well in Alere’s favor. Ron Washle noted that, “The landlord decided to split the original building into two units as the rents for dividing it commanded 15 to 20 percent higher rental rates.”
The industrial warehouse features front and rear offices, as well as a small shipping office totaling approximately 10,662 square feet. Built in 1989, other building features include 28’ minimum warehouse clearance, 42 dock high doors, ESFR fire sprinkler system, and a large fenced truck yard.
According to NKF research, the Inland Empire continues to lead other national markets in industrial absorption. Market-wide industrial vacancy in the Inland Empire remained under 5 percent for the 24th consecutive quarter, while rent set a new record high.
About Newmark Knight Frank
Newmark Knight Frank (“NKF”), operated by Newmark Group, Inc. (“Newmark Group”) (NASDAQ: NMRK), is one of the world’s leading and most trusted commercial real estate advisory firms, offering a complete suite of services and products for both owners and occupiers. Together with London-based partner Knight Frank and independently-owned offices, NKF’s 16,000 professionals operate from approximately 430 offices on six continents. NKF’s investor/owner services and products include investment sales, agency leasing, property management, valuation and advisory, diligence, underwriting, government-sponsored enterprise lending, loan servicing, debt and structured finance and loan sales. Occupier services and products include tenant representation, real estate management technology systems, workplace and occupancy strategy, global corporate services consulting, project management, lease administration and facilities management. For further information, visit www.ngkf.com.
Discussion of Forward-Looking Statements about Newmark Group
Statements in this document regarding Newmark Group that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. Except as required by law, Newmark Group undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark Group’s Securities and Exchange Commission filings, including, but not limited to, any updates to such risk factors contained in subsequent Forms 10-K, 10-Q, or Forms 8-K.
Inland Empire Regional Chamber of Commerce Event to Spotlight Brightline West
Program will highlight what’s next for high-speed rail in the Inland Empire
High-Impact Event Alert
Brightline West will be featured during the Inland Empire Regional Chamber of Commerce’s “High-Speed Rail is Headed to the Inland Empire” event on Wednesday, January 11, from 11:00 a.m. – 1:30 p.m. at Jessie Turner Community Center in Fontana, CA, which the County of San Bernardino is a title sponsor. The program will feature an update on Brightline West, including the project’s role in regional and statewide connectivity, its benefits to the community, what to expect in 2023, and how the public can stay engaged.
Featured panelists for the program are:
- Fiona Ma, Treasurer, State of California
- Ray Wolfe, Executive Director, San Bernardino County Transportation Authority
- Sarah Watterson, President, Brightline West
- Edward Ornelas, Jr., President/CEO, Inland Empire Regional Chamber of Commerce
- Matt Burris, Deputy City Manager of Community Development, City of Rancho Cucamonga
Brightline is the only private provider of modern, eco-friendly, intercity passenger rail service in America. The company currently serves Miami, Aventura, Fort Lauderdale, Boca Raton, and West Palm Beach in Florida, with its Orlando station beginning service in 2023. Recognized by Fast Company as one of the Most Innovative Companies in travel, Brightline offers a guest-first experience designed to reinvent train travel and take cars off the road by connecting city pairs and congested corridors that are too close to fly and too long to drive. Brightline West will build on this award-winning service by connecting Las Vegas and Southern California, with stations in Las Vegas, Victor Valley, Hesperia, and Rancho Cucamonga, and connectivity to Metrolink’s regional rail network.
“This will transform transportation in Southern California and Las Vegas for generations by providing a fast and efficient connection that gets people out of their cars, reduces traffic congestion and decreases air pollution.” -Fiona Ma, California State Treasurer
- Expected travel time is approx. 2 ¼ hours
- Our route is 2x faster than driving
- Zero-emission, electric train sets
- Expected top speed is 180 mph
- 400,000 tons of CO2 removed annually by reducing 3 million vehicles
- Connections to Metrolink and planned future connection to California High-Speed Rail in Palmdale
- Convenient station location on the Vegas strip (I-15)
For more information and to register for the event, click here.
Rancho Cucamonga and SBCTA Approve Sale of Property for Development of Brightline West Full-Service Transit Station
Agreement clears path for high-speed passenger rail service in the Inland Empire connecting Rancho Cucamonga, the High Desert and Las Vegas
The City of Rancho Cucamonga City Council and the San Bernardino County Transportation Authority (SBCTA) Board of Directors have approved the first step of the sale of a five-acre portion of the jointly owned property at Cucamonga Station to Brightline West. The agreement clears the path for Brightline West to develop the property at the northwest corner of Milliken Avenue and Azusa Court, and build the first high-speed rail station in the Inland Empire connecting Rancho Cucamonga, the High Desert, and Las Vegas. Brightline is the only private provider of modern, eco-friendly intercity rail service in America. The company currently operates between Miami, Fort Lauderdale, and West Palm Beach in Florida and is scheduled to complete construction to the Orlando International Airport by the end of 2022.
Cucamonga Station will go through a transformation in the coming years, making it the region’s global connectivity point and destination location for everything California has to offer. Transportation modes at Cucamonga Station will provide service through high-speed rail, the Metrolink San Bernardino Line, and Omnitrans Bus Rapid Transit and local bus service, as well as serve carpool commuters. Plans are also moving forward for a sub-terranean loop to Ontario International Airport (ONT), led by SBCTA, where passengers will be transported in just a few minutes between Cucamonga Station and airport terminals. In anticipation of deploying this service, Omnitrans has already launched ONT Connect, a regular shuttle service from Cucamonga Station to the airport that operates daily every 35-60 minutes.
“This agreement is a culmination of several years of working together with our partners and is a key milestone to bring high-speed rail to the Inland Empire,” said John Gillison, City Manager for the City of Rancho Cucamonga. “Cucamonga Station will serve as a global connectivity anchor within the newly branded HART District.”
“We are pleased to take this next important step forward in bringing enhanced transit connectivity to one of the fastest-growing population and economic centers in the country,” said Art Bishop, President of the SBCTA Board of Directors and Mayor Pro Tem of the Town of Apple Valley.
The Cucamonga Station will be strategically located within the HART District – a new transit-oriented, mixed‑use, housing, retail and commercial district that elevates the area into a walkable, culture-rich experience. Located within the area of Haven Avenue, Arrow Route, Rochester Avenue and the Transit station in Rancho Cucamonga, it will serve as a crossroads of food, travel, culture and commerce. The HART District is poised to be the next key economic catalyst in the region. To learn more, go to www.TheHartDistrict.com. The City of Rancho Cucamonga, Greater Ontario Convention & Visitors Bureau (GOCVB), Omnitrans, the Ontario International Airport, and San Bernardino County have established a joint effort for the project development and outreach programs. Additional project partners will come onboard as the project continues to move forward through the development process.
Key Points to this Important Regional Project:
- Third-party analysis by Beacon Economics, a well-respected Inland Empire-based firm
- Construction is estimated to take three to four years, with ongoing operations beginning in 2026-27
- More than $300 million dollars in construction spending in Rancho Cucamonga and more than $5 billion dollars in construction spending in San Bernardino County during the next four years
- Estimated to support nearly 11,000 jobs per year across San Bernardino County and more than 700 jobs per year in Rancho Cucamonga during construction
- Rancho Cucamonga can expect to receive additional indirect spending in the local economy from the jobs generated particularly during the construction phase
- Much of the new jobs will be in the construction, architecture and engineering fields
- The City could receive an additional $1 million dollars per year in property tax/sales tax revenues during the construction (3-4 years)
- Ongoing operational revenues of another $500,000 per year for Rancho Cucamonga could be possible from local sales and property tax once the station is in full operation
- Project will stimulate housing demand throughout San Bernardino County during construction and add tens of thousands of jobs (direct and indirect) to the countywide employment base
- Countywide sales tax should increase near $100 million dollars and more than $70 million dollars from property tax during construction
- Long-term operational impacts countywide will be in excess of $6 million dollars from property/sales tax
CA Inland Empire District Export Council (CIEDEC) to Present Cal-Mex Aerospace Expo on Sept. 22
The California Inland Empire District Export Council (CIEDEC), a diverse group of volunteer trade professionals dedicated to helping develop export sales and thus contributing to the national export program, will hold its inaugural Cal-Mex Aerospace Expo on Sept. 22 at the San Bernardino International Airport (SBD).
The expo’s goal is to raise awareness and connect Inland Empire aerospace & defense (A&D) and space manufacturers with the supplier needs of more than 100 companies in the nearby Aerospace Cluster of Baja California, the largest in Mexico. Companies located in Mexicali and Tijuana, Baja California, are just 2.5 to 3.5 hours from companies in the Inland Empire. Due to geographic proximity and the demand for speed to market, Mexico’s nearby aerospace sectors can provide expanding sales opportunities for Inland Empire A&D manufacturers interested in exporting their products, components, machinery, and services.
“CIEDEC is most pleased to organize this strategic collaboration between the Southern California and Baja aerospace industries,” CIEDEC Chairman Bob Spence said. “This is a necessary linchpin in regional cooperation, which is necessitated by our new world order.”
Aerospace industry experts will share updates on trends and policy; export control/International Traffic in Arms Regulations (ITAR); AS9100 certification and upcoming changes; cybersecurity essentials; drone pilot training; an overview of the aerospace sector in Mexico; aerospace export opportunities in Mexico; doing business in Mexico; and a B2B session.
“Aerospace is one of the largest and critically important sectors for our regional and national economies, and we are thrilled to support the District Export Council’s efforts to promote the growth of U.S. aerospace manufactures through cross-border sales opportunities in Mexico,” said Eduard Roytberg, director of the U.S. Department of Commerce’s Commercial Service office in Ontario, California. The Commercial Service is part of the Commerce Department’s International Trade Administration.
The speakers will include Tomás Sibaja, president of the Aerospace Cluster of Baja California, Mexico; Senior Commercial Specialist Silvia Cardenas (U.S. Embassy in Mexico City) and Senior International Trade Specialist Erica Ramirez (U.S. Commercial Service in the Inland Empire, California); David Graham, vice president of Aircraft & Component Maintenance at Unical 145/Unical MRO; and Kimberly Benson, president and CEO of Zenaida Global and an administrator for the UAS Center at SBD.
“The Inland Empire and Baja California share common interests and values in this sector,” Sibaja said. “The timing is now to engage our companies in business encounters and venture opportunities.”
SBD is the title sponsor for the expo, supported by the U.S. Commercial Service and the Aerospace Cluster of Baja California. Additional sponsors include IAPMO SCB, Alliance Buyers Group, EMG Global Business Solutions, Inc., Tablemation Solutions, ExIm20/20 Group, and ERS Consulting Services.
“SBD International Airport is pleased to support our aircraft maintenance and aerospace partners around the world,” SBD CEO Michael Burrows said. “This vital industry supports all business lines at SBD and airports across the globe.”
Early-bird tickets are $25 if purchased by Aug. 31, and $35 starting Sept. 1. For tickets, sponsorship, and exhibition opportunities, and more information about the event, visit https://www.eventbrite.com/e/cal-mex aerospace-expo-2022-tickets-376792445347. To learn more about CIEDEC, visit ciedec.org.
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