By Press Release
Pechanga Resort Casino Named Founding Partner Of Sofi Stadium And Hollywood Park, Los Angeles Rams, And Los Angeles Chargers
Pechanga Tribe Announces $100,000 in Grants for Inglewood Educational and Non-Profit Organizations
Pechanga Resort Casino is SoFi Stadium and Hollywood Park’s First Founding Partner Headquartered in Southern California
LOS ANGELES – (Dec. 17, 2019) – SoFi Stadium and Hollywood Park officially announced Pechanga Resort Casino as its newest Founding Partner of the new 70,000-seat stadium and 298-acre development being built by Rams Owner/Chairman E. Stanley Kroenke. As a part of this expansive agreement, Pechanga Resort Casino, owned and operated by the Pechanga Band of Luiseño Indians, will be the official California casino partner of the Rams, Chargers, SoFi Stadium and Hollywood Park. Pechanga is the first Southern California-headquartered company to announce a sponsorship with SoFi Stadium and Hollywood Park.
“We are thrilled to partner with the Chargers and the Rams, and to be a part of SoFi Stadium,” said Tribal Chairman Mark Macarro. “This isn’t just a Los Angeles stadium, it’s a Southern California stadium, and Southern California has always been and will always be our home. We are especially proud to be able to help local students and people in need with the grants we announced today.”
In honor of the holiday season and as a new member of the Inglewood community, Pechanga tribal leadership is donating $100,000 to Morningside High School in Inglewood and the Inglewood chapters of non-profits School on Wheels and U.S. Vets. This donation will be announced today at the stadium site, when Pechanga, SoFi Stadium and Hollywood Park, Rams and Chargers host a complimentary shopping experience for 50 homeless and/or at-risk veterans through U.S. Vets to give them needed items ahead of the holidays. The vets will receive items such as blankets, socks, umbrellas, hats and more. Pechanga’s efforts in Inglewood echo the millions of dollars the casino/resort has given over the years to the local communities it is involved in throughout the Southern California region.
“We are building a global destination that will be the pinnacle of sports and live entertainment,” said Jason Gannon, managing director, SoFi Stadium and Hollywood Park. “Pechanga is a company that not only shares Stan Kroenke’s vision to build a world-class facility and fan-first development with Hollywood Park, but also shares our passion for our surrounding communities. When our doors open in July, we look forward to working alongside Pechanga to create memorable guest moments and to give back to our Southern California home.”
Pechanga will have an extensive presence across the stadium, and when SoFi Stadium opens in July 2020, it will feature select Pechanga-branded spaces, including the Pechanga Founders Club. Pechanga Founders Club is a 14,000 square-foot premium club space within the stadium that is located on field level. The space will be creatively branded throughout, and guests will be up close to all the action happening on the field.
“We are proud to be the first Southern California-based Founding Partner with SoFi Stadium and Hollywood Park,” said Jared Munoa, President of the Pechanga Development Corporation. “This is a natural partnership between two of the top entertainment destinations in Southern California. We can’t wait for fans to experience the new Pechanga Founders Club and a lot of the other great amenities here.”
Fans coming to SoFi Stadium will interact with the major resort/casino’s brand across many areas and levels of the stadium, including an 11,500 square-foot activation zone on level 8. The activation zone will provide special branding and experiential opportunities for Pechanga to utilize for guests. Pechanga has longstanding partnerships with the Los Angeles Lakers and the Los Angeles Angels and has naming rights with the Pechanga Arena in San Diego.
“Pechanga’s commitment to serving the community while striving to maintain its reputation as a best in class resort/casino is exactly what you hope for when it comes to a Founding Partner,” said Chargers President of Business Operations A.G. Spanos. “To have someone who competes each and every day to be the very best within their industry yet understands their place in the community comes with a responsibility to give back – that’s everything you can ask for when it comes to corporate alignment. We couldn’t be happier to welcome Pechanga to the Chargers family.”
Pechanga will also entitle one of the stadium’s four VIP entrances. The resort/casino will have certain wayfinding signage and brand integration in and around its entitled VIP entrance.
“We are pleased to continue our relationship with Pechanga and move together into our new home at SoFi Stadium,” said Los Angeles Rams COO Kevin Demoff. “Since kicking off our partnership last summer, it has been evident that Pechanga and the Rams share many of the same values, whether it is delivering an unparalleled guest experience or making a difference in our community. We look forward to continuing to work with Pechanga to inspire not only Angelenos but also all those across Southern California to shine bright.”
Hollywood Park was represented by Legends Global Partnerships division, which sourced, negotiated and represented Hollywood Park in securing this partnership.
About Pechanga Resort Casino
Pechanga Resort Casino offers one of the largest and most expansive resort/casino experiences anywhere in the United States. Voted the number one casino in the country by USA Today and rated a Four Diamond property by AAA since 2002, Pechanga Resort & Casino provides an unparalleled getaway, whether for the day or for an extended luxury stay. Offering more than 5,000 of the hottest slots, table games, world-class entertainment, 1,090 hotel rooms, dining, spa and golf at Journey at Pechanga, Pechanga Resort & Casino features a destination that meets and exceeds the needs of its guests and the community. Pechanga Resort & Casino is owned and operated by the Pechanga Band of Luiseño Indians. For more information, call toll free (877) 711-2946 or visit www.Pechanga.com. Follow Pechanga Resort & Casino on Facebook and on Twitter @PechangaCasino.
About SoFi Stadium
SoFi Stadium, the new home of the Los Angeles Rams and Los Angeles Chargers, is located at Hollywood Park, a 298-acre global sports and entertainment destination being developed by Los Angeles Rams Owner/Chairman E. Stanley Kroenke in Inglewood, Calif. The 3.1 million square-foot SoFi Stadium is the largest stadium in the NFL, as well as the first indoor-outdoor stadium. It seats approximately 70,000, expandable up to 100,000, with more than 260 luxury suites and more than 13,000 premium seats. SoFi Stadium has already secured Super Bowl LVI in 2022, the College Football National Championship Game in 2023, and the Opening and Closing Ceremonies of the Olympic Games in 2028. Adjacent to the stadium and sitting under the same roof canopy is the 2.5-acre American Airlines Plaza and a 6,000-seat performance venue. Hollywood Park anticipates an initial phase of more than 1.5 million square feet of retail and office space, 2,500 residences, a hotel and more than 20 acres of parks. For more information about SoFi Stadium, visit www.SoFiStadium.com or @SoFiStadium on Instagram and Twitter.
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.
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.
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