Duke Realty Southern California Delivers Four Projects, Nine More Under Construction
Company Continues Investment in Coastal Tier 1 Markets with Robust Development Pipeline
The Southern California office of Duke Realty Corporation (NYSE: DRE), a leader in sustainable industrial real estate development and the largest domestic-only logistics REIT (Real Estate Investment Trust), announces its delivery of four facilities as well as its continued construction of nine developments in the high-demand Inland Empire, Orange County and Los Angeles — five of the 13 developments are already leased. This construction activity includes approximately 2.1 million square feet of space. Duke Realty has an additional 1.5 million square feet of planned development in the pipeline for Southern California in 2022 — bringing the market’s total portfolio to 19.4 million square feet.
“Demand for industrial space in Southern California remains at all-time highs and, to accommodate the demand for our clients, we have approximately 3.6 million square feet of development in the pipeline for Southern California,” said Nancy Shultz, president of Duke Realty’s West Region. “We continue to invest heavily in the market to expand our Southern California portfolio and meet growing supply chain needs. In fact, there are plans to invest more than $500 million in development projects in Southern California this year.”
Duke Realty recently completed:
a newly leased, 173,121-square-foot facility at 10905 Beech Avenue in Fontana,
a preleased, 40,850-square-foot facility at 1180 Spring Street in Long Beach,
a 72,526-square-foot facility at 2861 Orange Avenue in Long Beach and
a 49,487-square-foot facility at 2851 Orange Avenue in Long Beach.
Listing brokers for the Long Beach developments are Zac Sakowski at JLL and Mike Condon Jr. with Cushman & Wakefield. Listing brokers for the Fontana development are Clyde Stauff and Jace Gan with Colliers International.
Additionally, construction is underway at:
a preleased 529,866-square-foot development at 13131 Los Angeles Street in Irwindale,
a 330,735-square-foot development at 23840 Rider Street in Perris,
a 304,262-square-foot development at 1865 Mountain View Avenue in Redlands,
a 194,595-square-foot development at 16255 Slover Avenue in Fontana,
a 193,077-square-foot development at 16171 Slover Avenue in Fontana,
a 187,520-square-foot development at 2871 East La Palma Street in Anaheim,
a preleased 148,078-square-foot development at 131 Perry Street in Perris,
a 114,057-square-foot development at 1861 Mountain View Avenue in Redlands, and
a preleased 4.60-acre trailer yard at 2801 Lynwood Road in Lynwood.
“Even before we can complete our state-of-the-art developments, we have interest from our broker partners and clients,” said Collin Phillips, Duke Realty senior vice president of leasing and development in Southern California. “By working with local brokers to learn client needs and requests, we are able to tailor our facilities for expanded logistics requirements and distribution improvements — making our facilities tenant ready at completion.”
Eric Fikse and Dan Foye at Daum Commercial are the listing brokers for the available under-construction developments in Perris. Austin Hill, Jeff Smith, Tyler Plata and Holden Edmondson at Lee & Associates are the listing brokers for the available under-construction developments in Redlands. Eloy Covarrubias, Joe Werdein and Josh Hayes at CBRE and Chris Morrell at Lee & Associates are the listing brokers for the available under-construction developments in Fontana. Seth Davenport, Mitch Zehner and Adam Hill at Voit Real Estate Services are the listing brokers for the available under-construction development in Anaheim. Duke Realty is represented by Collin Phillips and Jake Smith, Duke Realty vice president of leasing and development in Southern California.
“Our investment is Southern California is approximately 20 percent of our company’s portfolio and we intend to continue growing that share,” added Shultz. “With the land we have banked, we are well-positioned to continue our development pipeline, but we are always researching new opportunities to acquire more land or facilities.”
All Duke Realty developments are built to LEED® certification standards — meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management.
About Duke Realty
Duke Realty owns and operates approximately 164.9 million rentable square feet of industrial assets in 19 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500 Index. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook, Instagram and YouTube.
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