February 22, 2021 10:00 AM
Newmark announces it has arranged a 373,771-square-foot lease on behalf of Ricoh USA, Inc., an information management and digital services company, at a distribution facility in the Inland Empire.
Newmark’s Senior Managing Directors Matt Moore, Wills Allen and Wes Hunnicutt have worked with Ricoh for the past four years and advised the tenant in its relocation to Rialto. Newmark’s Global Corporate Services Global Strategy team represents Ricoh nationwide. The landlord, Prologis, was represented by Colliers.
“Ricoh began the search for a modern facility that meets the company’s needs for the future – focusing on optimizing their process flows with an updated layout as well as improving their infrastructure with more dock doors and a large truck court,” said Moore. “Ricoh looked to the Inland Empire, and we were able to identify several options that fulfilled their needs.”
Located at 1920 West Baseline Road in Rialto, the building features 32-foot clearance height, skylights, 49 dock high loading doors and 69 trailers parking spaces. Ricoh plans to use the warehouse for light assembly and distribution.
According to Newmark Research, the Inland Empire industrial market’s net absorption reached 24.6 million square feet in 2020, on par with 2019’s total. Vacancy has remained below five percent for 34 consecutive quarters, despite the 152.5 million square feet in construction deliveries over this period. The forecast for 2021 is very bullish, based on the IE’s current market fundamentals and the progressive recovery in local and national labor markets.
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate services, with a comprehensive suite of investor/owner and occupier services and products. Our integrated platform seamlessly powers every phase of owning or occupying a property. Our services are tailored to every type of client, from owners to occupiers, investors to founders, growing startups to leading companies. Harnessing the power of data, technology, and industry expertise, we bring ingenuity to every exchange, and imagination to every space. Together with London-based partner Knight Frank and independently owned offices, our 18,800 professionals operate from approximately 500 offices around the world, delivering a global perspective and a nimble approach. In 2019, Newmark generated revenues in excess of $2.2 billion. To learn more, visit nmrk.com or follow @newmark.
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Statements in this document regarding Newmark that are not historical facts are “forward-looking statements” that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the effects of the COVID-19 pandemic on the Company’s business, results, financial position, liquidity and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark’s Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.