Ontario Business Park Targets Small Businesses

ONTARIO -- Seeking to provide small businesses with an opportunity to own their own industrial buildings, a Los Angeles developer has begun initial site work on a business park in Ontario.

The 7.2-acre development, called Belmont Business Park, is located a half-mile south of Ontario International Airport.

The Wolf & Associates project will be comprised of six separate buildings, ranging in size from 10,655 sq. ft. to 15,615 sq. ft. At build-out, the complex will be total 79,301 sq. ft. Occupancy is expected by Nov. 1.

Tustin-based Camey Architects designed the tilt-up project. Costa Mesa-based Norse Corp. is the general contractor.

Belmont includes 22-ft.-high clearances and a three-to-one parking ratio.

Key amenities include fenced yards, painted warehouse walls, metal Halide warehouse lighting and 800 amps of power.

"These features enable companies to start business immediately," said Tal Siglar, vice president of DAUM Commercial Real Estate Services' Ontario office. Siglar and Mark Zorn, an industrial specialist for DAUM, are exclusive marketing agents for the project.

"Small businesses in the Ontario market have been largely locked into multi-tenant industrial projects with virtually no identity," said Siglar. "This business park not only fills a void in the market of buildings available for sale in the 15,000 sq. ft. range and less, but will provide small businesses immediate identity as motorists approach the airport."

The Ontario building sales market has benefited greatly from historically low-interest rates and available financing during the past few years. "This trend has convinced many business owners to buy rather than lease, which has created a significant rise in sales prices, while in many cases allowing businesses to lower their occupancy costs through purchasing rather than leasing," Siglar said.

Daum officials said that in last three years smaller buildings in the market have had a lower vacancy rate (4 percent o 6 perent) than buildings larger than 20,000 sq. ft., which have had an average rate of 5 to 10 percent.

"This size of building remains an under-served component in the mix of inventory within this market, as smaller tenants still have fewer choices for finding space than larger tenants, "Chad Jacobson, vice president of research and marketing services for DAUM, which is targeting users like printers, custom manufacturers, wholesalers and distribution companies.

The buildings are divisible as well. "Those companies that are looking for a site with future growth potential can buy a building and lease out the unused portion until they grow into it, or just keep the other half for income," said Zorn.