IE Business Daily Business news for the Inland Empire.
An information management and digital services company has leased distribution space in Rialto.
Ricoh USA Inc. will occupy 374,000 square-feet in a logistics building at 1920 W. Baseline Road, according to a statement released yesterday.
The company plans to use the building for light assembly and distribution. Terms of the lease, and how many people will work there, was not available.
ProLogis, a San Francisco company that invests in logistics facilities worldwide, owns the building and will serve as landlord.
Newmark Group Inc., a global real estate advisory firm, represented Ricoh in the lease negotiations. Colliers represented ProLogis.
Despite the pandemic, the Inland industrial market remains strong: net absorption was 24.6 million square feet last year, about the same as 2019, and vacancy has been below five percent for 34 consecutive months, according to Newmark.
