IE Business Daily Business news for the Inland Empire.
A pet food company has signed a 15-year lease on an industrial building near Ontario International Airport.
The company, whose name was not released, will occupy a 108,700-square-foot building on five acres at 2400 E. Francis St., according to Colliers International.
Value of the lease, which was announced Tuesday, is $5.8 million. The tenant plans to use the building for manufacturing and distribution, but it’s not known how many people will work there or when the structure will be ready for use.
The 27-year-old building, which is owned by Hager Pacific Properties in Encino, is a good location for a company that wants to manufacture and distribute at the same site, said Mark Zorn, senior vice president with Colliers.
“It has the right combination of manufacturing and distribution amenities, to go along with its location, for a mid-sized manufacturer and distributor,” Zorn of the building at East Francis Street and South Archibald Avenue, in a statement.
Zorn and Tal Siglar, also a senior vice president with Colliers, represented Hager Pacific in the lease negotiations. Newmark, Grubb, Knight & Frank represented the tenant, according to the release.
