IE Business Daily Business news for the Inland Empire.
A major retailer has leased industrial space in Perris.
National Stores Inc. has signed a 10-year agreement with Sares-Regis Group to occupy a 579,708-square-foot building at 3900 Indian Ave. said Tom Taylor, senior executive vice president with Colliers International Ontario.
The lease is worth $26 million.
National Stores is expected to move into the building this summer, said Taylor, who represented Sares-Regis Group in the lease negotiations with Steve Bellitti, also a senior executive vice president with Colliers’ Ontario office.
CBRE Group Inc., represented National Stores.
National Stores plans to use the building, which is near the former March Air Force Base, almost exclusively for warehouse-distribution. The company will build a 12,600-square-foot addition that will be used for office space, Taylor said.
The number of people who will work there was not available.
Whirlpool, Hanesbrands Inc., Home Depot, Lowe’s and Ross Dress-for-Less all have logistics operations near the future National Stores site.
The Inland Empire industrial market remains strong, particularly in the Perris-Moreno Valley submarket.
“The entire market is performing great,” Taylor said.
National Stores Inc. is a Gardena-based clothing chain. It does business under several names, including Fallas, Fallas Discount Stores, Factory 2-U and CW Price. It has 300 locations throughout the United States, according to the company’s website.
