Duke Realty’s SoCal Team Leases 1.95M SF and Starts New 1.0M SF Logistics Facility
The Southern California office of Duke Realty (NYSE: DRE), the leading domestic-focused industrial property REIT (Real Estate Investment Trust) in the country, is off to a strong start in 2019, leasing 1.95 million square feet of space and starting the construction of a new 1.0 million-square-foot logistics facility at 4375 N. Perris in the Perris/Moreno Valley submarket. With the exception of the under-construction building, which is available for prelease, Duke Realty’s existing 10.450 million-square-foot industrial portfolio is 99.5 percent occupied.
“Duke Realty continues to grow its Southern California portfolio with modern, well-located properties which, in turn, align with the needs of companies looking for efficiency-enhancing warehouse and distribution space in this high-demand market,” said Nancy Shultz, Senior Vice President of Duke Realty’s Southern California operations. “In addition to the attractive attributes of our properties, our local team is extremely knowledgeable and in tune with today’s users’ space needs, which has been instrumental in our success in matching clients with the right space. We’re in an excellent position to meet future tenants’ needs as well thanks to our inventory of attractive land sites which currently will support an additional 3.2 million square feet of new development in the LA Basin.”
Since the beginning of the year, Duke Realty has signed two lease renewals, one for 575,457 square feet and another for 316,651 square feet. New leases have been signed for 400,935 square feet and for 656,695 square feet.
Located in the Inland Empire East, one of the nation’s most active industrial markets due to its strong labor availability and excellent highway access. Duke Realty’s newest building is going up at the intersection of N. Perris Boulevard and E. Markham Street, just east of a full-diamond interchange to I-215. The building, which will be Duke Realty’s eighth in the submarket, features 40′ clear height, 138 dock doors, 245 trailer stalls, and 608 auto parking spaces.
Duke Realty entered the Southern California market in 2011 and has steadily grown its portfolio through development and acquisitions. Parties interested in leasing and development opportunities with Duke Realty in Southern California are invited to contact Jake Smith, Vice President of Leasing and Development, at 949.797.7043.
About Duke Realty
In Southern California, Duke Realty owns and operates nearly 10.450 million square feet of industrial properties and has another 1.0 million square feet under construction. Its local office is at 200 Spectrum Center Drive, Suite 1600, Irvine, CA 92618.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 156 million rentable square feet of industrial assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.