City/State:
Ontario, California (Inland Empire area)
Clarion Partners, in conjunction with our development partner, Real Estate Development Associates (REDA), closed on a 119-acre industrial site in November 2017 on behalf of one of Clarion's commingled funds. The site is part of a larger, 8,000 acre mixed-use development known as Ontario Ranch in the Inland Empire West submarket of Southern California. The three-building logistics campus totals 2.6 million square feet and features state-of-the-art Class A attributes, including cross-dock configuration, 40’ clear height, ESFR Sprinklers and LED lighting. The Inland Empire consistently ranks as one of the top-performing industrial markets in the U.S. and serves as an import hub for many large institutional occupiers.
Construction began in January 2019 and the first building in the project, totaling 1.18 million square feet, was pre-leased to the Kimberly-Clark Corporation, an American multinational personal care corporation that produces mostly paper-based consumer products.
In April 2020, the second building in the project, totaling 1.254 million square feet, was pre-leased to ULINE, a leading distributor of shipping, industrial and packaging materials to businesses throughout North America. This lease was the largest industrial lease signed in Southern California in 2020. The ULINE building is currently under construction and slated to deliver in April 2022.
Clarion Partners is breaking ground on the third and final building in the campus, a 115,000 square feet speculative warehouse, this summer.
