Continental Tire Re-Ups 500,000-SF Lease

REDLANDS, CA-Continental Tire North America has renewed its industrial lease at 27223 Pioneer Ave. here with Prologis, covering 24 months and 497,714 square feet. The global manufacturer and distributor of performance tires has fully occupied this industrial property, which is close to the I-10, I-210 and I-215 freeways, since 2009 and will continue to use it for its North American operations.

“This renewal is an example of how important it is to be forward-thinking in our industry,” said Frank Geraci, an EVP in Voit’s Inland Empire office, in a prepared statement. Voit represented the tenant in the original lease transaction as well as the renewal, while Prologis represented itself. “We anticipated that the Inland Empire industrial market would improve. With this in mind, we proactively negotiated a renewal option for our client, giving them an opportunity to extend their lease under pre-negotiated terms.”