Welcome!

News Feed Item

CIP Real Estate Secures More Than $18.6 Million in Leasing at Empire Towers in Ontario, Calif.

CBRE, Wells Fargo Bank, Liberty Mutual Insurance, NGIC, Windsor Foods, and David Evans & Associates Sign New Leases Totaling 160,000 Square Feet

ONTARIO, CA -- (Marketwired) -- 02/05/14 -- Irvine, Calif.-based commercial real estate investment and management company, CIP Real Estate, announced today the completion of 18 new lease and renewal transactions at Empire Towers, the premier office park located on Inland Empire Boulevard in Ontario, Calif. The total value of the transactions exceeds $18.6 million and encompasses approximately 160,000 square feet. The transactions include CBRE, Wells Fargo Bank, Independent Capital Management, National General Insurance Corporation, Edgewood Partners Insurance Center, Sedgwick Claims Management, Liberty Mutual Insurance, David Evans & Associates and Windsor Quality Foods Company. CIP Real Estate owns Empire Towers in partnership with a fund sponsored by Guggenheim Real Estate, a Boston-based national real estate investor.

Specific leasing activity within Empire Towers in Q4 2013 included the following notable transactions:

  • CBRE renewed its long time tenancy with a new term of 10 years for approximately 15,000 square feet (Tenant Broker - P. Woodford, CBRE)
  • Wells Fargo Bank signed a new lease for 6,600 square feet, expanding its significant footprint at Empire Towers (Tenant Broker - J. Oien, CBRE)
  • Liberty Mutual Insurance, a twenty year tenant at Empire Towers, signed an expansion of 5,400 square feet (Tenant Broker - C. Jablin, Studley)
  • Sedgwick Claims Management renewed and expanded in the park and now occupies over 29,700 square feet (Tenant Broker - V. Batoosingh, CBRE)
  • Windsor Quality Foods Company, another 15 year tenant in the park, renewed its lease for 39,500 square feet (Tenant Broker - S. Ison, Axis & Dave Mudge, Lee & Associates)
  • David Evans & Associates, an environmental consulting services firm, signed a new lease for 10,255 square feet (Tenant Broker - C. Daggett, Mohr Partners)
  • National General Insurance, also a 20 year occupant of Empire Towers, renewed and expanded its lease for more than 22,300 square feet (Tenant Broker - J. Buschofberger, Lee & Associates)
  • Edgewood Partners Insurance Center signed a new lease for five years for 6,900 square feet (Tenant Broker - M. Jones, CRESA)
  • The Hays Group expanded into a new 5,708 square foot suite for seven years (represented the Landlord - S. Flemer, CIP Real Estate)

"Our strategy to create multitenant floors at Empire Towers resulted in a surge of leasing that out-paced the market," said Scott Flemer, Senior Vice President and Director of Marketing at CIP Real Estate. "Our new tenants appreciated the flexibility and wide range of spaces we were able to offer at Empire Towers."

In 2014, CIP Real Estate and Guggenheim will invest more than $2 million in significant project improvements, including renovations to lobbies and common areas in all four buildings. Conveniently located near the 10, 15 and 60 Interstates, the Class-A business park contains approximately 400,000 square feet over four different towers, and is within close proximity to major hotels, restaurants and Ontario Mills Mall. Pedestrian walkways, comfortable seating areas, attractive landscaping and two water features provide tenants with ample room to enjoy California's climate.

"We are very pleased with the leasing activity we saw in the fourth quarter of 2013 for Empire Towers," said Phil Woodford, Senior Vice President of CBRE, who was the lead broker on the project. "The Inland Empire saw 279,288 square feet of positive net absorption last quarter and vacancy decreased for the second quarter in a row."

Empire Towers offers a broad range of space sizes and configurations in its four buildings and includes a nine-story tower, making it the tallest office building the Ontario submarket. The project also offers "spec suites" that are ready for immediate occupancy for smaller tenants. The property has commanding views of the Ontario Airport and the San Bernardino mountains.

About CIP Real Estate - CIP Real Estate is a full service real estate investment and management company focused on the acquisition, development, repositioning and management of office, business and industrial management parks. Founded in 1995, CIP Real Estate owns and manages more than 5 million square feet of quality real estate throughout California, Nevada and North Carolina and has completed an excess of $1 billion in acquisitions and dispositions since its inception. www.ciprealestate.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
As enterprise cloud becomes the norm, businesses and government programs must address compounded regulatory compliance related to data privacy and information protection. The most recent, Controlled Unclassified Information and the EU’s GDPR have board level implications and companies still struggle with demonstrating due diligence. Developers and DevOps leaders, as part of the pre-planning process and the associated supply chain, could benefit from updating their code libraries and design by in...
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend @CloudExpo | @ThingsExpo, June 6-8, 2017, at the Javits Center in New York City, NY and October 31 - November 2, 2017, Santa Clara Convention Center, CA. Learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Five years ago development was seen as a dead-end career, now it’s anything but – with an explosion in mobile and IoT initiatives increasing the demand for skilled engineers. But apart from having a ready supply of great coders, what constitutes true ‘DevOps Royalty’? It’ll be the ability to craft resilient architectures, supportability, security everywhere across the software lifecycle. In his keynote at @DevOpsSummit at 20th Cloud Expo, Jeffrey Scheaffer, GM and SVP, Continuous Delivery Busine...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
SYS-CON Events announced today that WineSOFT will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Based in Seoul and Irvine, WineSOFT is an innovative software house focusing on internet infrastructure solutions. The venture started as a bootstrap start-up in 2010 by focusing on making the internet faster and more powerful. WineSOFT’s knowledge is based on the expertise of TCP/IP, VPN, SSL, peer-to-peer, mob...
SYS-CON Events announced today that EARP Integration will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. EARP Integration is a passionate software house. Since its inception in 2009 the company successfully delivers smart solutions for cities and factories that start their digital transformation. EARP provides bespoke solutions like, for example, advanced enterprise portals, business intelligence systems an...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
SYS-CON Events announced today that Carbonite will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Carbonite protects your entire IT footprint with the right level of protection for each workload, ensuring lower costs and dependable solutions with DoubleTake and Evault.
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...