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Corporate Office Industry
Quickly evolving in Ontario is its robust office market for corporate headquarters, large professional firms and high technology companies. Ontario offers a stable environment with lifestyle amenities, reasonable lease rates, modern facilities, technical amenities, efficient infrastructure and a highly skilled labor market. Ontario currently has 5.2 million square feet of office space and 1 million square feet under development. Based on an econometric study, Ontario expects to realize 15 to 25 million square feet of new office space in the next 25 years to accommodate expected business and population growth. Companies such as Merrill Lynch, Chapman University and the Brady Corporation are just a few examples of companies who have relocated to Ontario for its corporate advantages.
4th Quarter 2016 Lease Rates
- Ontario $1.77 per square foot
- San Gabriel Valley $2.38 per square foot
- John Wayne Airport $3.04 per square foot
- Downtown Los Angeles $3.20 per square foot
- South Orange County $3.34 per square foot
- West Los Angeles $4.22 per square foot
* Colliers International Office Market Report
Increasingly favored by executives wishing to avoid the delays and congestion of Los Angeles International Airport (LAX), companies locating offices within Ontario are not only within minutes of Ontario International Airport (ONT), they also have access to the fastest broadband communications from fiber optic and wireless carriers. Additionally, companies in Ontario are within minutes from the researchers and graduates of numerous major colleges and universities.
This ‘innovation corridor’ includes:
- Harvey Mudd College
- Keck Graduate School of Applied Life Sciences
- California State Polytechnic University, Pomona
- The University of California, Riverside
- Loma Linda University
- California State University, San Bernardino
- The Claremont Colleges
- The University of Redlands
- The Accredited University of La Verne School of Law
The high cost of housing in Southern California’s coastal counties is driving thousands of technicians, professionals and executives to new, upscale, inland neighborhoods. Characteristic of this migration is a clear preference not to commute and strong desire to work locally.
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