by Brianna Crandall — July 20, 2011—Industrial real estate company DCT Industrial Trust recently announced it has fully leased a 193,000-square-foot building within the Inland Empire West submarket of Southern California. The building, located at 13780 Central Avenue in Chino, was purchased by DCT Industrial in January of 2011 as a significant value-add project, and has undergone comprehensive redevelopment. The new tenant, Parker House Manufacturing Company, is a national wholesale furniture company. The company will make this newly renovated building its headquarters, showroom and distribution center.
DCT Industrial redeveloped several significant aspects of the building. Notable improvements include new store-front windows, refurbished office space, roof replacement, skylights, new drought-tolerant landscaping, and a repainted interior and exterior. Chris Lupo, President, Parker House Manufacturing Company, said, “DCT Industrial saw our vision for growth and worked diligently to structure a deal to accommodate our future plans. The major renovations of the facility took this building from a manufacturing facility to a high-quality distribution headquarters.”
DCT Industrial worked proactively with Parker House to execute a contract before construction was complete. The tenant will take occupancy in August 2011 with a five-year lease. Parker House Furniture is moving from another building in Ontario, outside of the DCT Industrial portfolio. This lease brings DCT Industrial’s total consolidated portfolio for Southern California of 3.8 million square feet to 99.3 percent leased.
Additionally, in the East Bay submarket of Northern California, DCT Industrial signed a 151,000-square-foot lease with a private, third-party logistics and supply-chain management company, which will use the space as its headquarters and as a distribution facility. Year-to-date, DCT Industrial has signed new leases totaling 307,000 square feet in Northern California, which brings the total consolidated portfolio in the market to 87.1 percent leased.
