IE Business Daily Business news for the Inland Empire.
Two industrial lease agreements in Fontana that total more than 530,000 square feet have been completed.
Newmark’s Ontario office represented both tenants in the negotiations, according to a statement released by the company.
The first transaction involved Communications Test Design, Inc., a full-service, global engineering, repair and logistics company that serves the communications industry.
The company extended its 137,244-square-foot lease for five years and expanded into an additional 244,794 square feet at the Fontana Commerce Center. The extra space is in two buildings at 14597 Baseline Ave. and 14600 Bar Harbor Road, both of which are near the commerce center.
In the second transaction, Pet Food Experts, a distributor of pet food and supplies, signed a 10-year lease to occupy the Vintage Park East Industrial Park, which covers 154,760 square feet at 12060 Cabernet Drive.
Pet Food Experts recently bought United Pacific Pet, a regional pet food and animal care product distributor, that operated out of the building.
Newmark is a subsidiary of Newmark Group Inc., a commercial real estate firm with more than 160 offices and approximately 6,200 employees worldwide, according to the statement.
