IE Business Daily Business news for the Inland Empire.
A 276,000-square-foot logistics facility in Eastvale has been leased to a single tenant.
Newegg, an online retail company that specializes in computers, cameras and other electronic items, has signed a 100-month lease to occupy the building at 2653 S. Milliken Ave., according to a statement.
Financial terms were not disclosed.
Newegg, which is based in the City of Industry, is scheduled to move into the building this week.
Newcastle Partners, a commercial development company that focuses on projects in Los Angeles and the Bay Area, finished developing the Milliken Avenue building in August. It now represents the building’s owner, Bentall GreenOak/Sun Life Assurance Company of Canada.
“The demand for industrial product throughout the Inland Empire continues to grow, especially for large users, as more and more consumers look to buy online products,” said Jackson Smith, a partner with Newcastle Partners, in the statement. “This region provides logistics-oriented businesses with a more economical alternative as well as large facilities that are few and far between compared with Orange, San Diego and Los Angeles counties.”
