Jones Lang LaSalle Completes 100,000 SF Industrial Lease in Chino, CA
CHINO, CALIF. — Jones Lang LaSalle announced today that it has completed a lease with REPET, Inc. for 100,000 square feet of industrial space at 14207 Monte Vista Avenue in Chino, Calif.
Jones Lang LaSalle’s team of Executive Vice Presidents Sam Foster and Mike Fowler and Associate Chris Brandt along with IDS Real Estate Group represented the landlord, EastGroup Properties in the transaction. Tony Phu of Colliers International represented the tenant.
“In this challenging market, EastGroup’s ability to adapt to current conditions made it possible for us to secure a deal with REPET that provided improvements at a favorable rate,” said Foster. “EastGroup is one of the few industrial owners that continues to be well capitalized and positioned to do deals.”
Ideally located near the 10, 60 and 57 Freeways, the property features excess trailer storage, rail access and a direct connection to the Santa Ana Regional Interceptor (SARI) Line that provides industrial users with an environmentally-friendly and convenient way to dispose of high-saline waste.
EastGroup Properties (NYSE: EGP) is a real estate investment trust focused on the acquisition, development and operation of industrial properties in major Sunbelt markets throughout the United States with an emphasis in the states of Florida, Texas, Arizona and California. Its strategy for growth is based on its property portfolio orientation toward premier business distribution facilities clustered near major transportation features. EastGroup’s portfolio currently includes 28 million square feet.
The property is managed by IDS Real Estate Group (www.idsrealestate.com), a leading real estate services firm with offices throughout Southern California. IDS represents clients nationwide and currently manages a commercial portfolio of approximately 21 million square feet with a focus on projects in California.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2009 global revenue of $2.5 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.6 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with approximately $38 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.