VOIT COMPLETES NEW 180,000 SQUARE-FOOT INDUSTRIAL LEASE FOR GLOBAL OFFICE FURNITURE COMPANY
Walt Chenoweth, Frank Geraci and Juan Gutierrez of Voit’s Inland Empire office help Steelcase, Inc. to relocate and reduce operating costs.
INLAND EMPIRE, CA – April 11, 2012 – (RealEstateRama) — Voit Real Estate Services’ Inland Empire office has completed a new, 180,608 square-foot industrial lease at the Crossroads Business Park, located at 740 No. Vintage Ave. in Ontario, Calif., on behalf of Steelcase, Inc., a global provider of workplace products, furnishings and services, according to Walt Chenoweth, Executive Vice President in Voit’s Inland Empire office. The facility will serve as a new Steelcase distribution center.
Chenoweth worked with Frank Geraci and Juan Gutierrez of Voit’s Inland Empire office to represent Steelcase in the transaction. Steelcase is relocating a former distribution center in the City of Industry to the Ontario location as part of its ongoing strategy to further streamline the company’s Southern California distribution operations, according to Chenoweth.
“We understood our client’s specialized needs, which included a facility which would reduce the company’s overhead, while providing over-standard dock high loading and a large yard for trailer parking,” said Chenoweth. “We advised Steelcase to relocate to the Inland Empire to reduce rental costs, and we successfully secured a facility with 50 dock doors and 85 parking spaces for trailers.”
According to Chenoweth, this industrial space was a rare find in the Inland Empire, as the building provides roughly double the amount of trailer parking offered by other properties in the market.
“By identifying this facility, our team helped Steelcase to further lower its operating costs not only through the lower cost lease, but also by eliminating the need to lease off-site parking,” commented Chenoweth.
The lessor, Prologis, an industrial REIT, was represented by Mike Wolfe and Joe McKay of Lee & Associates.
The Voit team has worked with Steelcase successfully for more than a decade, according to Chenoweth, as his team assisted the company in its move from Tustin to the City of Industry in 2002.
About Voit Real Estate Services
Voit Real Estate Services is now a 10 office commercial real estate firm that, through its brokerage and asset services professionals working together, provides strategic property solutions tailored to clients’ needs. Combining 40 years of expertise in brokerage, investment advisory, financial analysis, market research, asset management, tenant advisory and property management services, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 50 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.
Contact:
Jenn Quader/Judith Brower
Brower, Miller & Cole
(949) 955-7940
JQuader (at) browermillercole (dot) com
