Stirling Capital Investments Announces Full Lease-Up of New 447,740-Square-Foot Facility

unknown

By Staff Reports

(Victor Valley)– Stirling Capital Investments announced that it has secured full lease-up of its new 447,740-square-foot industrial facility currently under construction at Southern California Logistics Centre (SCLC), the 2,500-acre commercial and industrial complex entitled for 60 million square feet of development in Victorville. The recent pre-leasing of the facility highlights the growing demand for quality manufacturing and distribution space in the Inland Empire High Desert region.

“Achieving full pre-leasing in the beginning stages of construction is proof that the demand for manufacturing space in the region is on a definite trend upward,” said Brian D. Parno, Chief Operating Officer for Stirling Development. “The immediate success of this facility has led us to explore the next phase of development at Southern California Logistics Centre.”

The first transaction secured by Stirling Capital Investments is a 211,000-square foot lease agreement with Arden™ Companies, a leading U.S. manufacturer and marketer of outdoor cushions, furniture and décor. By relocating its Rancho Cucamonga, California manufacturing facility Arden™ Companies will provide a larger manufacturing footprint on the west coast which will accommodate increased future production.

“Arden Companies needed to move it’s manufacturing hub into a cost-effective, state-of-the-art space and this new Stirling facility fit all of our parameters,” said Cecil Kearse, CEO of Arden™ Companies. “Assistance from the City of Victorville and the County of San Bernardino make the region extremely conducive to businesses of our type.”

In the second lease transaction, Newell Brands (formerly known as Newell Rubbermaid) secured an additional 233,740 square feet of space at the master plan development. A tenant of SCLC since 2007, the leading consumer goods company had expanded its original space in 2013 from 407,612 to 584,412 square feet. The latest lease reflects further expansion of Newell Brands’ High Desert operations platform. The newly leased space is earmarked for regional and national distribution of Newell Brand products.

“We have been building steadily at Southern California Logistics Centre in an effort to meet continued demand from a roster of world-class companies for best-in-class commercial and industrial space,” said Parno. “We believe demand in the High Desert is increasing and expect this trend to continue as more companies are looking for cost effective real estate solutions.”

Jay Dick of CBRE represented Stirling Capital Investments in both lease transactions. Walt Chenoweth of Voit Real Estate Services represented Arden Companies in their lease transaction, and Newell Products was represented by Art Garcia, Director of Global Real Estate.

Global Access Victorville

Global Access Victorville is home to Arden ™ Companies, Boeing, Dr Pepper Snapple, Exel Logistics, Fastenal, FedEx, General Electric, Leading Edge, Newell Brands, Pacific Aviation Group, Plastipak Packaging, Pratt & Whitney, Red Bull, Sparkletts, Solar City Corporation and United Furniture Industries. Global Access Victorville, the former George Air Force Base in Victorville, Calif., is an 8,500-acre multimodal freight transportation hub supported by air, ground and rail connections. Global Access Victorville is comprised of Southern California Logistics Airport (SCLA), a 2,500-acre world-class air cargo and aviation facility; Southern California Logistics Centre (SCLC), a 2,500-acre commercial and industrial complex entitled for 60 million square feet of development; and Southern California Rail Complex (SCRC), a planned 3,500-acre intermodal and multimodal complex entailing rail-served facilities. Stirling and the City of Victorville have teamed up to redevelop the former George Air Force Base into Global Access Victorville, the largest fully-integrated commercial development in the region, which is anticipated to create more than 24,000 jobs and support another 18,500 jobs in the surrounding area. For more information, visit www.globalaccessvictorville.com.

About Stirling Capital Investments

Stirling Capital Investments is a joint venture between Stirling (www.stirlingdevelopment.com), a Foothill Ranch, Calif.-based strategic, full-service, value-added development company specializing in master-planned communities and major land renovations and Denver, Colo.-based DCT Industrial Trust Inc. (NYSE: DCT). Stirling is led by partners Dougall Agan and Chris Downey, who have been responsible for more than $3 billion in development activity on large-scale land development projects in Los Angeles, Orange, San Bernardino and San Diego counties. DCT Industrial Trust Inc., is a leading industrial real estate company specializing in the acquisition, development, leasing and management of bulk distribution and light industrial properties located in high-volume distribution markets in the U.S. and Mexico.

Leave a Reply

Your email address will not be published. Required fields are marked *