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Ontario International Airport freight volume rose 26% in April

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Passenger levels declined 90% as airlines and airports felt coronavirus impact

ONTARIO, Calif.May 14, 2020 Surging air freight shipments continued to drive commercial activity at Ontario International Airport (ONT) in April, the second straight month of better than 20% gains, officials announced today. At the same time, passenger levels declined more than 90% as the aviation industry felt the crushing impact of the global coronavirus pandemic

More than 75,000 tons of commercial cargo were loaded and unloaded at ONT in April, a 26.6% increase over April last year. Through the first four months of the year, ONT handled more than 261,000 tons of freight, up 16.5% increase over the same period in 2019.

“Ontario Airport continued to play a leading role in Southern California’s vast supply chain network in April as the nation’s transportation industries responded to rapid changes in the coronavirus landscape,” said Mark Thorpe, chief executive officer of the Ontario International Airport Authority. “Over the past few years our airport has proved to be a primary driver for the regional economy and in the last two months it has shined under a bright national spotlight.”

The rise in air freight volume in April represents the highest year-over-year increase at ONT since the City of Ontario and San Bernardino County assumed control of the airport in late 2016. The previous high was recorded in January 2018 when air freight tonnage increased 22.8%.

Air cargo

(tonnage)

April

2020

April

2019

% Change

YTD

2020

YTD

2019

% Change

Freight

75,171

59,359

26.64%

261,449

224,346

16.5%

Mail

1,536

2,454

-37.41%

6,034

9,192

-34.4%

Total

76,708

61,813

24.10%

267,483

233,539

14.5%

Ontario’s surging air freight activity is more remarkable, Thorpe said, since other airports in the region and across the U.S. are experiencing declines in cargo tonnage.

Just as passenger volumes have decreased significantly worldwide, the total number of air travelers through ONT declined 93.5% to fewer than 29,000 in April, a decrease in line with airports across the U.S. All air travelers at ONT in April were domestic fliers as international services were suspended temporarily.

From January through April, passenger levels were off 30% to just over 1.1 million compared to the same period a year ago.

Passenger

Totals

April

2020

April

2019

% Change

YTD

2020

YTD

2019

% Change

Domestic

28,916

420,699

-93.16%

1,073,126

1,545,621

-30.6%

International

0

24,249

-100%

64,060

95,660

-33.0%

Total

28,916

444,948

-93.50%

1,137,186

1,641,281

-30.7%

“We at Ontario mourn the lives lost as a result of the global coronavirus pandemic and recognize the strain placed on virtually every segment of society,” Thorpe said. “As the nation continues to move toward recovery, we are reminded of the resilience of air travelers and our aviation partners, and we look forward to welcoming them back to Ontario when we return to more normal travel routines.”

Airport officials are reminding all customers, visitors and employees that they must wear appropriate face coverings while at ONT and onboard their flights. Although San Bernardino County has loosened its order mandating the use of masks in public, the airport has instituted a wide variety of enhanced health safeguards to keep ONT clean and germ-free, including ongoing sanitizing of all high-touch surfaces using a highly effective disinfectant, added hand sanitizers, screening trays treated with powerful antimicrobial technology and the continued use of face coverings. In addition, U.S. airlines require crew members and passengers to wear face covering onboard commercial flights.

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

By Press Release

Stockbridge Acquires 540,478 SF Inland Empire Industrial Portfolio for $142MM

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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.

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Stater Bros. Charities and Reyes Coca-Cola Bottling Give Back to Military Families

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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.

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BDK Logistics Intelligence Fully Leases 114,190 SF Industrial Facility in Corona, CA

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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.

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