Inland Empire, CA: Hewlett-Packard (NYSE:HPQ) Signs Huge Lease

Hewlett-Packard (NYSE:HPQ) has leased a distribution center in San Bernardino.

Hewlett-Packard (NYSE:HPQ) plans to lease a 1.4 million-square-foot distribution center in San Bernardino in accordance with a seven-year-deal.

The company is consolidating its operations and will move into the two-building Cajon Distribution Center this summer.

The deal indicates the return of large corporations’ interest in the industrial real estate market in the Inland Empire.

“It’s certainly a global name, a tech-based company, so it’s clearly a positive and another example of how global companies view the importance of Southern California and the Inland Empire in particular,” said Chuck Belden, executive director of Cushman & Wakefield’s Inland Empire office.

Hewlett-Packard Co. (NYSE:HPQ) shares were at 40.14 at the end of the last day’s trading. There’s been a -1.5% change in the stock price over the past 3 months.