10 Recent Transactions By Panattoni in the Inland Empire Total $46 Million
Thursday, January 17th 2013
Panattoni Development Company, Inc. has completed 10 major transactions in the second half of 2012 for their properties in the Inland Empire, California. In all, the deals have a total consideration in excess of $46 million.
According to Stephen Batcheller, Partner, the firm completed nine leases, and one sale involving more than 1,666,000 square feet. He said that the occupancy level for Panattoni’s buildings in the area now stands at 97%.
The largest transaction was a Build-to-Suit for World Kitchen in Riverside, CA. The tenant moved into a renovated 400,000 square foot facility at 2325 Cottonwood Avenue. The 236,000 square foot addition is currently being constructed. To accommodate World Kitchen, Panattoni relocated 4 tenants freeing up 559,000 square feet.
NAI Hiffman represented World Kitchen; Jones Lang LaSalle represented Panattoni.
Other significant leases in the area:
A 229,900 SF lease for an expansion/extension for Kawasaki in Ontario.
A 175,400 SF lease for Magnussen Home Furnishings in Ontario.
A 170,800 SF lease for Dean Warehousing, also in Ontario.