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EToys Said to Have Leased Major Ontario Industrial Site

March 21, 2000|BRAD BERTON

Internet toy seller EToys Inc. has reportedly leased an entire 761,565-square-foot distribution center that international real estate developer ProLogis has under construction in Ontario.

Representatives of both Santa Monica-based EToys and Aurora, Colo.-based ProLogis declined to discuss the transaction reported in the Business Press and by Rentv.com.

The center is reportedly being built at Milliken Avenue and Mission Boulevard in Ontario, considered the focal hub of Southern California's so-called Inland Empire industrial marketplace.

Several large, custom-designed "build-to-suit" developments have been completed or are underway throughout much of the Inland Empire, where the transportation infrastructure tends to promote efficient distribution of goods to the coastal population centers.

EToys recently committed to a new corporate headquarters in Kilroy Realty Corp.'s Westside Media Center development now under construction along Olympic Boulevard in West Los Angeles.

EToys has seen its stock price fall from a 52-week high of $86 in October to a 52-week low of $11.19 on Friday. Its shares closed down $1.69 on Monday at $11.94 on Nasdaq. ProLogis, one of the world's biggest developers and owners of industrial properties, closed unchanged at $18.94 on the New York Stock Exchange.

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