Industrial building lands two tenants
Two Ohio-based manufacturers have agreed to occupy an industrial building near Ontario International Airport.
Esperia Holdings LLC and Technical Consumer Products Inc. have leased the Airport Distribution Center at 5700 E. Airport Drive, according to a statement released by Newmark Knight Frank.
The 250,248-square-foot building is the southwest corner of Airport Drive and Etiwanda Avenue. Esperia Holdings will occupy 103,432 square feet of the building, while Technical Consumer Products will use 146,816 square feet.
The landlord is Alere Property Group LLC in Newport Beach, an investment and development firm that focuses on high-end industrial properties in the western United States.
Terms of lease, and how many people will work in the building, were not released.
Newmark Knight Frank represented Alere Property in the lease negotiations. Dividing the building in two will generate 15 to 20 percent in rent than it would if the structure was occupied by one tenant, according to the statement.