Voit Real Estate Services’ Inland Empire office has directed a new 52-month, 100,000 square-foot industrial lease at 8950 Rochester Avenue, Rancho Cucamonga, Calif. for a total consideration of $1.6 million. Frank Geraci, Walt Chenoweth and Juan Gutierrez of Voit’s Inland Empire office represented the lessee, Reusable Container Corporation, as well as the lessor, DCT Industrial Trust, in the transaction.
The Reusable Container Corporation, a subsidiary of IFCO Systems N.A., has occupied 100,876 square feet within this industrial building since 2003, and was seeking additional space to accommodate its expanding manufacturing operations, according to Geraci, an Executive Vice President in Voit’s Inland Empire office. With this new lease, the Reusable Container company will fully occupy the 200,876 square-foot building.
“We helped the Reusable Container Corporation to secure its initial 100,876 square-foot lease originally in 2003, as well as its renewal of that space in 2006 and 2011,” said Geraci. “When our client approached us to find a space that would double its operations, we drew upon our strong industry relationships to identify the right fit.”
According to Geraci, the 100,000 square feet of space was not yet available for lease, but because of the Voit team’s relationship with the lessor, they were able to structure a lease agreement before the space ever hit the open market.
“This deal was a win-win for both parties. The landlord now has a long-term, high-quality tenant occupying the entire building, and the lessee successfully expanded while remaining in a location that has proven to be a good fit for its operations,” commented Geraci.
The Reusable Container Corporation manufactures and distributes reusable plastic containers used to transport fresh produce from producers to leading grocery retailers.