Globalization of E-Commerce Drives Industrial Absorption
Upon completion, a 190,554-square-foot logistics center in Fontana immediately entered into a seven-year lease agreement with Sell Below Cost USA. The facility attracted proposals from three fulfillment companies to meet the strong demand for Chinese imports.
Kevin McKenna and Greg Merrill with Colliers represented developer Molto Properties in the lease transaction. Molto partnered with LDC Industrial Realty to develop and construct the building.
“The globalization of e-commerce marketplaces continues to significantly drive industrial property absorption,” said McKenna. “Out of necessity, direct-to-consumer demand for Chinese-manufactured products accelerated in the course of the pandemic. Molto’s development and subsequent lease showcase how quickly Asia-based distributors are strategically positioning property assets to capitalize on growing U.S. consumer demand for at-home delivery models.”
With more than 50 years of combined experience, Molto currently has two projects underway in the Inland Empire and plans to expand its footprint in the area and key U.S. markets.
The Inland Empire recently recorded its lowest vacancy rate in history and lease rates within the region are at all-time highs. The ports of Los Angeles and Long Beach navigated through the COVID slowdown and products are flowing in at record levels.
Lisa Brown has decades of experience in corporate communications and marketing management with organizations including Coldwell Banker Residential, Grubb & Ellis, Marcus & Millichap, NAIOP, SIOR and ALM.
In those positions, she worked in conjunction with chief executive officers and chief marketing officers to create corporate messaging, cohesive branding standards, strategic marketing plans and thought pieces. Brown is a frequent speaker at industry events and an editing adjunct professor for an online course. She has a master’s degree in mass communications from San Jose State University.