IRVINE, Calif., March 20, 2017 /PRNewswire/ -- SARES•REGIS Group leased four new distribution buildings totaling 972,000 square feet in the Meredith International Centre in Ontario, California. Only two buildings remain available for lease in the premier project that SRG developed on 150 acres near Ontario International Airport.
"Meredith International Centre is filling up. Of our seven buildings, five are now leased. Our previously announced first lease with television shopping channel QVC for a 1,050,000-square-foot building was signed just as we broke ground on the 3-million-square-foot project. All the lease agreements range from five to 10 years," said Larry Lukanish, senior vice president of SRG Commercial Development.
The two remaining buildings total 575,000 square feet and 398,000 square feet. They are LEED certified and feature 36-foot clear heights, 185-foot truck courts and rooftop solar, Lukanish said.
The buildings are on one of the last large tracts of land in the Inland Empire's most desirable west end, he said, adding that the buildings are just off the I-10 Freeway and across from Ontario International Airport.
"They represent an expansion for each of our tenants from their previous buildings," Lukanish said.
Companies signing the four new leases are:
- Arvato, an international marketing, financial and technology service provider with about 70,000 employees in 40 countries, leased a 552,000-square foot building. Arvato is a wholly owned subsidiary of Bertelsmann, a German multinational corporation.
- Metro Air Service, a division of dnata, an international air services provider with about 40,000 employees in more than 80 countries and based in the United Arab Emirates, leased a 155,000-square-foot building.
- The Wheel Group, a Los Angeles, California-based maker and distributor of aftermarket automotive wheels and accessories, leased a 138,000 square foot building.
- Metropolitan Logistics Services, a leading provider of transportation management solutions based in Saddle Brook, New Jersey, leased a 127,000-square-foot building.
SARES•REGIS Group was represented in the lease negotiations by Joe McKay and Chris Morrell in the Ontario, Calif., office of Lee & Associates Commercial Real Estate Services.
Meredith International Centre totals 243 acres and includes plans for 1.1 million square feet of office and retail space and 800 apartments.
SARES•REGIS Group of Irvine, California, is a privately held real estate development, investment and management firm that focuses on commercial properties and multifamily communities in the western U.S. Since its founding in 1993, SRG has developed and acquired more than $7 billion in commercial and residential assets. The company manages a combined portfolio of approximately 21 million square feet of office and industrial space and 17,300 apartment units.
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SOURCE SARES REGIS Group