Ontario, Calif. (January 12, 2017) - Wellco Industries Inc., a company specializing in the creation and promotion of new technology products for construction, electricity, and landscape design, has completed a lease on an 89,819 square foot industrial building in the Inland Empire. Kidder Mathews commercial real estate brokers, Jeffrey Crocker and Cory Whitman, represented Wellco in the transaction.
The building, located at 2095 California Avenue in Corona, California, is situated on a 4.96 acre parcel with a large secured yard. It is owned and operated by Terreno Realty Corporation.
According to Whitman, there has been a trend of tenants moving to lower priced, inland markets as supply is constrained and lease rates continue to increase in coastal industrial markets.
"Not bound to a single area, Wellco analyzed multiple industrial markets on the West Coast, based on proximity to ports and distribution channels. After an extensive survey process, they found the Inland Empire to be the most efficient and economical location to meet their needs as a growing e-commerce company," said Crocker. "We anticipate other industrial users will look to the Inland Empire as an attractive alternative for company operations," Whitman added.
About Kidder Mathews
Kidder Mathews is one of the largest independently owned commercial real estate firms on the West Coast, with over 600 real estate professionals and staff in 17 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $4.7 billion in transactions, manages 42 million square feet of space, and conducts 1,300 appraisals annually. For more information, visit kiddermathews.com.