Invesco inks $42 million Inland Empire industrial lease with auto parts distributor

An auto parts distributor has signed an industrial lease in the Inland Empire totaling more than $42 million.

The company is leasing a 522,270-square-foot building in Chino, California, owned by global asset manager Invesco.

DAUM broker Gus Andros represented the undisclosed tenant in the transaction, alongside Nathan Lara, Andrew Lara, Rudy Lara and Jack Nersesian of Lara CRE.

Colliers brokers Steve Bellitti, Tom Taylor, Joey Jones and Evelyn Manning represented Invesco.

Andros said in a statement the new tenant is expanding its Southern California distribution footprint with the lease at 16380 Euclid Ave.

“We have worked with this client for several years and previously helped the firm secure a nearby 200,000 square-foot facility that remains an important part of its operations,” Andros said. “As the business has continued to expand, they required additional capacity to complement their existing footprint.”

He said the facility provided the size, functionality, location and modern features needed to support the company’s ongoing growth.

Direct vacancy in Chino was 3.24% in the first quarter, according to a DAUM industrial report, reflecting limited availability of product for users seeking largescale distribution space. The average asking rent for industrial space in Chino was $1.26 per square foot.

Built in 2014 within the Chino South Industrial Center, the property features 32-foot clear height, dock-high loading and a large truck court.