Radial Leases 441,675 SF Warehouse Facility in Rialto
Rialto, CA – Voit Real Estate Services is proud to announce that the team of Frank Geraci, Executive Vice President, Juan Gutierrez, Senior Vice President, and Adam Geiger, Associate, from Voit’s Inland Empire office have successfully completed the $11.6 million lease of a 441,675 square-foot warehouse facility in Rialto on behalf of Thrifty Oil Co. The tenant, Radial, a 3rd party logistics provider, was represented by Jay Dick of CBRE.
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“The Inland Empire market continues to absorb industrial space at unprecedented levels and we expect this trend to continue for the near future,” commented Juan Gutierrez of Voit. “We were able to attract a quality tenant due to the fact that Thrifty Oil Co. provided a state-of-the-art facility with features such as a 36’ ceiling height, cross-dock configuration and a generous truck court that accommodates additional employee and truck parking, and immediate ingress and egress to the 210 Freeway.”
“We were extremely pleased with the Voit team’s comprehensive representation of our Rialto project and appreciated the professionalism of Radial’s broker Jay Dick of CBRE. Thrifty Oil looks forward to a long and constructive relationship with our newest customer, Radial,” remarked Sean Tabor, Thrifty’s Chief Operating Officer.
The property, which is part of the Renaissance Rialto Business Park, will be used as the distribution center for the west coast stores for a leading European fashion brand offering clothing, shoes and accessories for all ages. Radial, which specializes in streamlining logistics, will be relocating their current facility from a 170,000 square-foot space in Redlands, which they have significantly outgrown, to the more than double 441,675 square-foot facility in Rialto and has signed a 63-month lease.
According to Jay Dick of CBRE, “This new facility, which offers immediate freeway access and has the ability to accommodate parking for up to 500 vehicles, will help the tenant deliver on-time and efficient fulfillment of their goods and provide expansion space to support future growth.”
The property is located at 2225 North Alder Avenue in Rialto, California.
About Voit Real Estate Services
Voit Real Estate Services is a privately held, broker-owned Southern California commercial real estate firm that provides strategic property solutions tailored to clients’ needs. Throughout its 45+ year history, the firm has developed, managed and acquired more than 64 million square feet and completed more than $46.5 billion in brokerage transactions encompassing more than 44,500 brokerage deals. Voit’s unmatched expertise in Southern California brokerage, investment advisory, financial analysis, and market research enable the firm to provide clients with forward looking strategies that create value for a wide range of assets and portfolios. Further information is available at www.voitco.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.