Logistics Tenant Signs Full-Building Renewal in Perris
Avison Young has successfully arranged a full-building lease renewal for a Class A industrial facility located at 100 Walnut Avenue in Perris, California. The 205,589-square-foot property will continue to be occupied by GPA Logistics under a renewed 65-month lease. GPA Logistics has been the sole tenant since the building was originally delivered.
The landlord, a fund managed by Ares Management, was represented by Avison Young’s Inland Empire team, including Principal Cody Lerner and Associate Kameron Graylee. GPA Logistics was represented by Dillon Dummit of Savills. The facility is managed by Ares Industrial Management.
This lease renewal occurs during a period of increased vacancy rates, new supply additions, and heightened scrutiny of tenant creditworthiness in the Inland Empire East market. Despite these challenges, the successful renewal reflects the property’s quality and the location’s continued appeal.
“In today’s market, large-scale renewals like this are a major achievement,” said Lerner. “It reflects the quality of the asset, the strength of the Inland Empire East location, and our team’s ability to deliver results amid more challenging conditions.”
