IE Business Daily Business news for the Inland Empire.
Ascena Retail Group has signed a 10-year plus lease on an industrial building in Riverside.
The Mahwah, N.J.-based company will occupy the 582,772-square-foot building at 7295 San Gorgonio Drive starting July 1, according to a statement by Western Realco in Newport Beach.
The building will be Ascena’s first warehouse-distribution operation on the west coast. Financial details were not disclosed, and the number of people who will work there was not released.
Besides leading the lease negotiations, Western Realco developed and marketed the building on behalf of Alessandro Partners LLC in Bloomfield, Conn.
The building, which sits on a 30-acre site, is near close to several other corporate logistics centers, including Sysco Corp., Walgreens, Lowe’s Hardware and Kia Motors North America, according to the statement.
Western Realco has completed and marketed nearly 800,000 square feet of industrial space on the Inland Empire’s west side during the last 18 months, and it currently has 1.3 million square feet under construction on the region’s east side, according to the statement.
