09 Sep East is the beast for new industrial development – Press Enterprise
Expensive rent in Southern California’s coastal counties is a familiar story. The same is true in some western communities in the Inland Empire.
To that end, industrial market investors are looking to vacant land east of the Riverside and San Bernardino population cores for potential warehouse space, according to research by JLL, a commercial real estate developer.
More than 14 million square feet of industrial space is under construction in the Inland Empire’s eastern submarket, compared with 8 million square feet in the west submarket, JLL reports.
A vacancy rate of 3% for the entire region is the lowest in more than a decade, according to a recent market report from CBRE.
In the west submarket, the vacancy rate is even lower, and the demand for space there well exceeds the supply. “The West Inland Empire is a landlord’s market,” JLL wrote in its report.
A map showed about 10 large warehouses under construction along the Interstate 215 corridor, but only two — both near Eastvale — in the west.
The lack of space there is reflected in the high rents. According to JLL, tenants in the east save, on average, about 7 cents per month per square foot.
In a real-case scenario, Burlington Distribution of California in June agreed to lease an 800,000-square-foot distribution center on Pioneer Avenue in Redlands. Based on JLL’s 7 cents per month estimate, Burlington is saving more than $56,000 per month in rent by not signing a lease for a warehouse 25 miles west of Redlands.
JLL named Redlands, along with cities such as Banning and Yucaipa, as places with “large plots of vacant land suitable for bigger tenants and larger industrial facilities.”
SB County to host Sept. 26 job fair
The Workforce Development Department of San Bernardino County will host a job fair from 9 a.m. to 12 p.m. Thursday, Sept. 26 at the West Wind Community Center, 2455 East Riverside Drive in Ontario.
The event will focus on job opportunities in western San Bernardino County.
For more information, call 909-941-6500.
Dada to be honored by police group
Jamil Dada, a longtime community activist with groups that develop jobs in the Inland Empire, will be honored by the Riverside Police Foundation with its Ronald O. Loveridge Distinguished Community Leader award.
The award will be presented Saturday, Sept. 14 at the foundation’s Golden Badge Awards at the Riverside Convention Center. The event starts at 5:15 p.m.
Dada, who is vice president for investments at Provident Bank, is chairman of the Riverside County Workforce Board. He is on the executive committee of the California Workforce Board and on the board of the National Association of Workforce Boards.
Make a Wish names new regional CEO
Gloria Jetter Crocket, a longtime executive in the nonprofit world, is the new chief executive for Make a Wish Orange County & the Inland Empire.
She succeeds Stephanie McCormick who will depart the nonprofit Sept. 12 after 8 years.
Crocket has more than 25 years of experience in the nonprofit industry, most recently serving as chief development officer for Second Harvest Food Bank of Orange County.
“This once in a lifetime opportunity to lead Make-A-Wish by advancing the vision, overall strategic initiatives and priorities in partnership with a passionate staff, Board of Directors, volunteers and other key stakeholders by granting wishes that provide joy and hope to children is quite humbling,” Crockett said in a statement.
Previously she was a chief fundraiser for the UC Irvine School of Medicine and spent 17 years working for the American Cancer Society in Maryland.
EEOC to host employer roundtables
The Los Angeles office of the Equal Employment Opportunity Commission will host a series of employer roundtables to discuss mediation and how to resolve disputes among workers.
The first roundtable, Coaching Through Conflict Resolution, will be from 9:30 to 11 a.m. Thursday, Sept. 19 at the EEOC’s offices, 255 East Temple St., 4th floor.
Space is limited, so employers who wish to attend should reserve space by going to www.eventbrite.com where they can search “eeoc.”
Status Update is compiled by Inland Empire business reporter Jack Katzanek and edited by Business Editor Samantha Gowen. Submit items to [email protected] or [email protected]. High-resolution images also can be submitted. Allow at least one week for publication. Items are edited for length and clarity.