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Newegg Casts a Wider Net in Inland Empire with Mega Lease
The pandemic boosted international demand for warehouses but has made an already aggressive Southern California market even more feverish. Vacancy is at record lows, spurring pre-lease offers and spec improvements.
One of the latest leases is from online electronics retailer Newegg, which is widening its Southern California net with a 244,958-square-foot industrial lease in Ontario. The City of Industry-based company’s new lease for 5200 Shea Center Dr. is reportedly valued at $26 million. The lease term has not been disclosed, but it appears to run about 10 years.
The lease is for one of five warehouses that make up Shea Properties’ 1.8-million-square-foot Shea Center Ontario logistics complex at the I-10/I-15 interchange near the Ontario Airport and Ontario Mills. This building is the third largest of its neighbors with 68 dock doors. All of the warehouses have 30-foot clear heights.
- ◦Lease
