(Irvine, Calif. – Nov. 3, 2014) Duke Realty, a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of bulk industrial facilities, medical office properties and suburban office buildings, has announced that it will build a new 783,407-square-foot building in Perris, Calif., in the Inland Empire East submarket. The site, which is near the Ramona Expressway and I-215, provides users with convenient access to highways and a strong base of workers.
“Warehouse/distribution users with large space needs are increasingly finding the Inland Empire East submarket, especially the I-215 corridor, an excellent option,” said Jason Sturman, Senior Vice President of Duke Realty’s West Region. “Duke Realty wanted to be in the position to offer potential customers with significant space requirements and short timelines move-in ready, first-class warehouse space so we purchased this 95.7-acre site last month and immediately began infrastructure work. By this time next year, Perris Logistics Center II will be open, the pad for the 1.2 million-square-foot Perris I will be complete and all associated on- and off-site infrastructure will be finished.”
Duke Realty entered the Southern California market in 2010 and has steadily grown its portfolio to more than 2.3 million square feet through acquisitions and development. Currently, the company’s market portfolio is 95 percent leased and, before the purchase of the Perris site, had no land available for development.
Perris Logistics Center II will be the second building in Southern California developed by Duke Realty. Its first building, Chino I, a 421,030-square-foot building that is 100 percent leased to Tactical Logistics Solution, was delivered in 2013.
Perris Logistics Center II, which is being designed and built to achieve LEED designation, will include 36′ clear height; 118 dock doors; and parking for 276 automobiles and 183 trailers. Delivery is slated for August 2015.
“Our Perris site has much to offer companies looking for warehouse space given its location in this key industrial hub and its superior highway access,” added Sturman. “We are excited to further demonstrate our development capabilities and deliver a large, first-generation facility that’s ready and available for clients with immediate warehouse needs.”
Parties interested in preleasing Perris Logistics Center II or BTS opportunities on the other Perris site are invited to contact Duke Realty at 949.797.7000 or Steve Bellitti or Thomas Taylor with Colliers at 909.605.9400.
About Duke Realty
Duke Realty is a nationwide owner, developer and manager of commercial real estate properties, with a focus on industrial buildings. Its entry into the western United States began in 2005 when it entered the Phoenix market. In 2010, the company completed its first transaction in Southern California. Its success in these western markets led Duke Realty to expand into Northern California in 2012 and Seattle in 2013. Duke Realty’s West Region office is located at 8001 Irvine Center Drive, Irvine, Calif., 92618. The phone number is 949.797.7000.
Across the country, Duke Realty owns, maintains an interest in or has under development approximately 154.6 million rentable square feet of industrial and office assets, including medical office, in 22 major U.S. metropolitan areas. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.