November 28, 2016
Chandler, AZ-based OnTrac signed a 255,528-square-foot lease at Sun Valley Business Center, a two-building, 352,500-square-foot logistics-specific project in the San Fernando Valley CA. A joint-venture between Seal Beach, CA-based Xebec Realty Partners and Charlotte, NC-based Barings Real Estate Advisers is developing the $58-million facility that is expected to deliver in July.
Xebec’s Gretchen Sauer notes a “once-undevelopable truck storage yard” is being transformed “into a 15-acre, two-building logistics masterpiece.” The facility will serve as a model for developers converting urban infill sites to meet “the need for ever-faster deliveries of products by e-commerce firms,” she says.
Colliers International’s John DeGrinis, Patrick DuRoss and Jeff Abraham, along with Triniti Partners’ George Stavaris and Colette Ramirez, represented the landlord. Colliers’ John Kovaleski and David Buchholz advised the regional overnight package delivery service tenant.
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