IE Business Daily Business news for the Inland Empire.
A global headwear manufacturer has leased a building in The Hub@Ontario International Airport, an industrial park under development.
Otto International Inc. has signed a 15-year lease on the 254,677-square-foot building at 3551 E. Jurupa Street, according to a statement.
Financial terms were not disclosed.
This is the first lease signed at The Hub. When completed, the master-planned project’s first phase, which is expected to be completed in about six months, will consist of four buildings that combined will cover about two million square feet.
The project is co-owned by CanAm Ontario, LLC, which is made up of McDonald Property Group, a Canadian pension fund, and an investment affiliate of Affinius Capital.
CBRE represented Affinius Capital and McDonald Property Group in the negotiations.
“Securing this lease ahead of completion underscores the appeal of The HUB’s quality and location,” said Eddie Gonzalez, managing director of asset management for Affinius Capital, in the statement. “We are privileged that Otto International selected our Inland Empire development, and pleased to count them among our global industrial and logistics portfolio.”
