IE Business Daily Business news for the Inland Empire.
The second phase of a 72-acre business park will be occupied by a single tenant.
Logistics Plus Warehousing & Fulfillment, Inc., a third-party logistics company based in Erie, Pennsylvania, has signed a five-year lease to occupy Columbia Business Park II, according to a statement released Monday by Trammell Crow Co. and Washington Capital Management, the project’s co-developer. Foremost Commercial Real Estate Services in San Bernardino represented Logistics Plus in the lease negotiations. The financial terms of that agreement were not disclosed.
Columbia Business Park’s second phase, which was completed recently, covers 19 acres. Logistics Plus, a global company that manages more than one million square feet of warehouse-distribution space in North America, will occupy a 374,000-square-foot building at 300 Palmyrita Ave., according to the statement.
Like its first phase, which opened in 2017, Columbia Business Park’s second phase was built without a signed tenant. When completed, the three-phase project in the Hunter Park Corridor will have 1.5 million square feet of warehouse-distribution space.
Trammell Crow Co. a subsidiary of CBRE, is a worldwide commercial real estate developer and Fortune 500 company headquartered in Dallas. Washington Capital Management, Inc. in Seattle manages real estate equity and debt, fixed income and equity strategies, mostly for institutional clients.
