Duke Realty Corporation

10/12/2021 | Press release | Distributed by Public on 10/12/2021 10:31

Duke Realty Preleases ~199K SF Speculative Development in Inland Empire West

IRVINE, Calif.- October 12, 2021 - The Southern California office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, secured a long-term lease agreement with Yahee Technologies (Yaheetech), a global e-commerce wholesaler. The speculative development at 1532 South Vineyard Avenue in Ontario, California helps expand Yaheetech's West Coast distribution network. The 199,472-square-foot speculative development on 8.7 acres is scheduled for completion in early 2022.

1532 South Vineyard Avenue, Ontario, California

"We continue to see high demand for logistics real estate space in Southern California driven by accelerated e-commerce growth and expanded restock inventory needs," said Nancy Shultz, senior vice president of Duke Realty's Southern California operations. "Additionally, limited supply continues to drive down vacancy rates that are currently at one percent in the Inland Empire West submarket, one of the nation's top industrial markets. Our developments continue to attract clients in need of modern, strategically-located, industrial space that offers warehousing and distribution functionality."

Duke Realty's facility in the Inland Empire West submarket provides Yaheetech with 36 feet of clear height, 25 dock doors, 21 trailer parking spaces in a large, secured yard and 120 auto spaces. The facility is being built to LEED® Silver certification standards - meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management.

"Duke Realty is committed to sustainable building practices that help improve the long-term value of our facilities and help our tenants save energy costs," said Shultz. "Since we pledged to build our facilities to LEED certification standards in 2019, the company has invested more than $2 billion to LEED-certified projects - several of them here in Southern California."

Kevin Wang with Centermac Realty represented the tenant and Mark Zorn and Cory Whitman at Colliers International together with Collin Phillips, Duke Realty's vice president of leasing and development in Southern California, represented Duke Realty.