OnTrac, a package delivery service operating in the eight western states, reached an agreement with Westcore Properties on a $1.4 million, 65-month, lease to establish a hub for its administration, warehouse, distribution and delivery of overnight packages at 9860 Ferguson Ave., Visalia, California.
OnTrac will occupy 89,301 square feet of space in the 140,775 square foot building. The target move-in date for OnTrac is late spring 2014. The number of OnTrac employees working in Visalia will increase from eight to 70, creating new opportunity for jobs and giving the local economy a boost, Westcore Properties said.
“Westcore has been great to work with,” OnTrac Chief Financial Officer Thomas Fischer said. “They have been very proactive and helpful to get this transaction closed and get us in the building as soon as possible.”
“This is a great partnership for Westcore Properties. We were able to help a tenant find a value creation opportunity by identifying a creative space solution to fulfill their long-term needs,” said Hack Adams, senior vice president of leasing at Westcore Properties. “We look forward to working with OnTrac and are excited to see their operations thrive in the San Joaquin Valley.”
Situated near two major highway corridors, the Ferguson property has 16 dock-high loading doors and more than 140 parking spaces. The four year-old building is shared adjacently by Stihl, a leading manufacturer of handheld power equipment. The agreement’s brokers were Colliers International on behalf of OnTrac and Burr Commercial on behalf of Westcore Properties.
"The City of Visalia is pleased that Westcore Properties and OnTrac reached this long-term lease agreement," said Visalia Mayor Steve Nelsen. "The additional employees OnTrac will bring to the city is a welcome boost to our local economy."