(Irvine, Cal. – July 22, 2014) Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of bulk industrial facilities, announced that its Southern California office has signed a lease for all of Chino I, its 421,031-square-foot industrial building in Chino. Tactical Logistic Solutions, a third-party logistics provider, will occupy the building which is located at 13799 Monte Vista Avenue. Duke Realty, an Indianapolis, Ind.-based company that owns and manages more than 2.3 million square feet of industrial properties in Southern California, delivered Chino I, its first speculative development in the market, in 2013.
“Since we entered the Southern California market in 2011, Duke Realty has been steadily building a superior portfolio of Class-A bulk distribution properties,” said Jason Sturman, Senior Vice President of Duke Realty’s Western Region. “Concurrent with our strategy to acquire high-quality, well-leased properties, we also wanted to demonstrate our development capabilities so we elected to build Chino I on a speculative basis. We are pleased that Tactical Logistic Solutions has chosen to do business with Duke Realty and that this premier building meets their needs.”
Duke Realty’s Chino I building is located at the southeast corner of Monte Vista and Schaefer Avenue in the central business district of Chino, just one mile from the 50 and 71 freeways and three miles north of the 91 freeway, providing easy access to all of Southern California. The concrete tilt-up building features 32′ clear height, 57 – 9′ x 10′ dock doors, and two 12′ x 14′ ramp doors. A 225′ deep truck court is incorporated on the site, along with a staging area for 160 trailers and automobile parking.
Timothy Pimentel with Cushman & Wakefield represented Tactical Logistic Solutions in the transaction. Duke Realty was represented by Chuck Belden with Cushman & Wakefield, the listing broker, and Chris Burns, Vice President of Leasing with Duke Realty.
About Duke Realty
Duke Realty owns and manages more than 2.3 million square feet of industrial properties in Southern California, in addition to 2.6 million square feet in Northern California. Duke Realty is opening a local office in September 2014 at 8001 Irvine Center Drive in Irvine.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 154.1 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.