REAL ESTATE
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New Chip on the Block: SDC Development, Newport Beach, signed Frito-Lay Inc. to a five-year, $7-million lease for a 181,000-square-foot building at its 44-acre Inland Distribution Center in Fontana.
The snack-food manufacturer will use the building as its new Los Angeles regional warehouse.
SDC said one of the provisions of the lease was a hurry-up clause in which SDC had to finish constructing the building by mid-January, or in just five months instead of the normal seven, so that Frito-Lay could be using the warehouse by summer. That’s the busiest time of the year for the Plano, Tex.-based maker of Fritos and Cheetos, a subsidiary of Pepsico. Elliott Corp., Newport Beach, was the general contractor for the building.
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