CB Richard Ellis Represents Space Center in One of Inland Empire's Top Industrial Deals of the Year

Business Wire, Sept 1, 1999

ONTARIO, Calif.--(BUSINESS WIRE)--Sept. 1, 1999--

CB Richard Ellis (NYSE:CBG), the Inland Empire's leading real estate services company, represented Space Center as landlord in a 10-year, 317,000-square-foot lease with Starkist Foods, Inc. The lease, one of the largest industrial transactions in the Inland Empire this year, is valued in excess of $10 million.

Starkist, a wholly-owned subsidiary of H.J. Heinz, took occupancy of the property earlier this month and will use the facility as a warehouse and distribution center for pet-related food items. The property is located in Fontana.

"The building is extremely functional," said Jay Dick of CB Richard Ellis' Ontario office, who represented Space Center. "In addition to having a 30-foot ceiling clear height, the property is rail served, has a secured truck yard and easy access to the 10, 15 and 60 freeways. These features play an important role for Starkist's shipping and distribution needs."

"We chose CB Richard Ellis to represent our property because of their local market expertise in the Inland Empire," said Graham Tingler, President, Western Region, Space Center, Inc. "They provided Space Center excellent market information which allowed us to quickly re-lease the facility prior to the current tenant's lease expiration."

Starkist was represented by Cushman & Wakefield.

CB Richard Ellis (NYSE:CBG) is the world's leading real estate services company. Headquartered in Los Angeles with 10,000 employees worldwide, the company serves real estate owners, investors and occupiers through nearly 250 principle offices in 35 countries. Services include property sales and leasing, property management, corporate services and facilities management, mortgage banking, investment management, capital markets, appraisal/valuation, research and consulting. CB Richard Ellis had 1998 revenues of over $1 billion.