DAUM Commercial Real Estate Services, a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales, and property management, has completed the lease of a 102,878 square-foot freestanding Class A industrial property in Ontario, Calif. The building was leased for a total consideration of $8,785,000 over four years.

Christopher Migliori, SIOR, Executive Vice President at DAUM Commercial Real Estate’s Newport Beach office, and Gus Andros of DAUM’s Ontario office represented the lessor in the transaction. Jeff Bellitti of JLL represented the lessee.

Located on 4.7 acres at 5505 E. Concours Street in Ontario, the facility was built in 2001. It includes 3,102 square feet of office, 14 dock high loading doors with levelers, a ground level door and a secured truck court, and BNSF rail service with six doors. The building also offers 62-car parking and four detached trailer stalls. It is strategically situated with freeway access to the 10, 60 and 15 freeways.

“Strategically located at the intersection of major trade arteries and international airport, Ontario serves as a crucial logistical hub for Southern California and positions itself as the prime mover in regional logistics and distribution,” Migliori said. “The region attracts Fortune 500 companies and e-commerce giants seeking efficient access to Ports, Freeways, and modern high-quality distribution buildings.”

According to DAUM Research, Q4 2023 saw a major spike in absorption for the region as the largest single industrial building was delivered in the Inland Empire West market. However, asking rents dipped $0.01 to $1.45 per square foot as the region’s vacancy rate increased by 99 basis points to 5.4 percent.

About DAUM Commercial
DAUM Commercial Real Estate Services is a leading provider of commercial real estate services including brokerage, tenant representation, consulting, leasing, sales and property management. Founded in 1904, DAUM focuses on longstanding client relationships and draws upon its century-long track record to deliver steadfast insights and proven results to clients across the U.S. DAUM has 11 offices throughout Southern California and Arizona. More information is available at www.daumcommercial.com.