Lee & Associates-Ontario Completes $14.5 Million 10-Year Truck Terminal Lease in Colton
Torrance, CA – April 17, 2013 – (RealEstateRama) — Lee & Associates, one of the largest broker-owned commercial real estate firms in the country, completed a $14.5 million, 10-year truck terminal industrial lease for C.R. England with Heitman Financial at 2250 S. Riverside Ave in Colton.
The 34.36-acre truck terminal property is situated in a highly desirable area with close proximity to the 10 and 215 Interstates and Highway 60. Other tenants in the area include Fed Ex, Cooper Lighting, Simpson Manufacturing, Exel Logistics, Bob Hubbard Transportation, Pro Build, Razor Scooters and Living Spaces.
Jeff Smith and Ryan Lal of Lee & Associates’ Ontario office represented the tenant, C.R. England, who is the largest temperature-controlled carrier in the world. C.R. England is expanding their operation from their Mira Loma location and is a family-owned four generation global transportation company.
Ryan Lal stated that, “Competition from developers for larger sites like the Riverside Avenue property was our biggest challenge. What became clear during our market analysis and time spent with C.R. was the 34.36-acre site in Colton was a standout; in many ways a turnkey operation built to the highest standards and specifications made it the right fit for our client. Our focus on securing the property along with strong support from C.R. England and their willingness to recognize the need to move quickly allowed us to communicate the right message to Heitman and ultimately convince them to proceed with maintaining the site as a trucking facility and leasing it to CR.”
About Lee & Associates
Celebrating more than 34 years of leadership excellence in commercial real estate, Lee & Associates is the largest broker-owned firm in the nation, with 48 locations across the nation including Arizona, California, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Maryland, Michigan, Missouri, Nevada, New Jersey, New York, South Carolina, Texas and Wisconsin. With a roster of nearly 730 expert brokers, Lee & Associates provides a wide range of specialized commercial real estate services. Additional information is available at www.lee-associates.com.
