Rubbermaid signs 10-year California lease
Atlanta-based Newell Rubbermaid has signed a 10-year deal to lease a custom-built 407,612-square-foot bulk distribution facility at the Southern California Logistics Airport in Victorville, Calif.
The deal, signed with Stirling Capital Investments, a joint venture between Foothill Ranch, Calif.-based development company Stirling Enterprises and Denver-based industrial real estate investment trust firm DCT Industrial Trust Inc., is valued at $15 million.
The build-to-suit bulk distribution facility for Newell Rubbermaid is the first of several warehouse and distribution buildings to be developed during the first phase of the 8,500-acre logistics center. First-phase development is being supported through a $350 million investment from Stirling. Construction of the Newell Rubbermaid distribution building is expected to begin in the first quarter, and the company anticipates moving into its new facility in September, creating about 150 new jobs.
