Tuesday, October 19, 2010
CHINO, CA— Jones Lang LaSalle has completed a lease with REPET, Inc. for 100,000 square feet of industrial space at 14207 Monte Vista Avenue (top left map) 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.
For further information, please visit our website, http://www.joneslanglasalle.com/.
Contact: David Ebeling, Phone: +1 949 278 7851, Email: