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Newell Brands : SCLA sees completion of industrial facility, major lease signed

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06/29/2017 | 01:51am CEST

June 28--VICTORVILLE -- Stirling Development has announced the execution of a multi-year industrial building lease at Southern California Logistics Airport.

The deal includes a three-year, 195,508-square-foot industrial lease with Newell Brands for "Distribution Centre 18" at SCLA in Victorville.

The 370,023-square-foot facility was completed ahead of schedule on June 22.

The lease with Newell renders DC 18 completely occupied, with the remainder of the building to be occupied by Plastipak Packaging, Inc., which signed a five-year, 174,515-square-foot lease in late 2016 prior to construction.

The facility's tenants are expected to generate approximately 200 new jobs and an estimated total of 700 ancillary jobs within the region. Move-in for both tenants is anticipated for late this summer.

Newell Brands, a consumer goods company, has been a tenant at SCLA since 2007. With this latest lease, the company will now occupy in excess of 1 million square feet at SCLA.

Additionally, Plastipak, a world leader in the design and manufacture of high-quality, rigid plastic containers for the food, beverage, and consumer products industries, will now occupy nearly 500,000 square feet of space within SCLA. Plastipak has been a tenant at SCLA since 2009.

"It is a true success story for SCLA and Stirling to see businesses like Newell and Plastipak thrive and grow within the High Desert," said Brian Parno, chief operating officer of Stirling Development. "From our full-time office within the park, our asset management team has assisted both tenants to comfortably navigate their expansion needs."

Parno, who said his team is thrilled the companies have once again chosen to call SCLA home as they expand, said Sterling Development believes the combination of SCLA's logistics-driven location, the quality of SCLA's master plan and Class A facilities, and affordability and availability of land are all major factors to the success of this project.

"This is the second industrial facility at SCLA within the past year to be fully pre-leased to large users," Parno said. "Big box leases in the Inland Empire North Region are about two-thirds the cost of facilities in other Inland Empire markets. This cost savings, along with nearby affordable housing and abundant labor force, makes SCLA an attractive location for manufacturing and distribution users."

Rene Ray De La Cruz may be reached at 760-951-6227, RDeLa [email protected] or on Twitter @DP_ReneDeLaCruz.


(c)2017 Daily Press, Victorville, Calif.

Visit Daily Press, Victorville, Calif. at www.vvdailypress.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2017 14 747 M
EBIT 2017 2 443 M
Net income 2017 2 095 M
Debt 2017 9 147 M
Yield 2017 1,64%
P/E ratio 2017 12,95
P/E ratio 2018 15,62
EV / Sales 2017 2,36x
EV / Sales 2018 2,29x
Capitalization 25 653 M
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Number of Analysts 18
Average target price 58,7 $
Spread / Average Target 11%
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Michael B. Polk Chief Executive Officer & Director
Mark S. Tarchetti President
Michael T. Cowhig Non-Executive Chairman
William A. Burke Chief Operating Officer & Executive Vice President
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