case study

Industrial Development: Ontario Ranch

Ontario Ranch Inland Empire, California

​​​City/State​: O​ntario, California (Inland Empire area)​

​Clarion Par​tners, 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 comm​ingled 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 t​hree-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. 

Ontario, California construction images  

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.

Ontario site map reflecting two large and one small building pads​​

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Footnotes

Disclosures

The investments described herein were selected based on non-performance-based criteria and are not necessarily representative of any particular Clarion Partners fund or portfolio. It should not be assumed that any of these properties are or will prove to be profitable.

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This material does not constitute investment advice, nor does it constitute an offer in any product or strategy offered by Clarion Partners LLC or Clarion Partners Europe, and should not be viewed as a current or past recommendation to buy or sell any securities. Any specific investment referenced may or may not be held in a Clarion Partners client account. It should not be assumed that any investment, in any property or other asset, was or will be profitable. Investment in real estate involves significant risk. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing.

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