(Irvine, Cal. – Sept. 23, 2014) Duke Realty Corporation (Duke Realty), a leading nationwide REIT that owns and operates 8.1 million square feet in the western United States, including more than 2.3 million square feet of industrial properties in Southern California, announces that it has purchased 95.74 acres of land in Perris, California, for future development. The land, which is located in the Inland Empire East submarket near the Ramona Expressway and I-215, can support up to two million square feet of best-in-class bulk industrial space in two buildings. Preliminary development models show a configuration with two buildings, one with 783,000 square feet and the other with 1,224,000 square feet. Designs for both buildings incorporate 36’ clear height, 185’ truck courts, and extensive car and trailer parking.
“We are pleased with this land purchase because it provides us with an excellent land position in the rapidly expanding I-215 industrial corridor to leverage Duke Realty’s strong development platform,” said Jason Sturman, Senior Vice President of Duke Realty’s Western Region. “Not only is this land ideally located for warehouse/distribution clients due to its interstate access and labor availability, the parcel is fully entitled so we will be able to move quickly to execute on market opportunities.”
Duke Realty’s new Perris development site has excellent access to Indian Avenue, Morgan Street, Perris Boulevard and West Rider Street. The tract is ideal for the construction of cross-docked facilities which offer users optimum efficiency in product movement and distribution. This parcel also allows for the creation of a secure 2 million-square-foot industrial campus in the Inland Empire.
Parties interested in build-to-suit development on Duke Realty’s Perris parcel are invited to contact Steve Bellitti or Thomas Taylor with Colliers at 909.605.9400.
About Duke Realty
Duke Realty entered the Southern California market in 2010 and has grown its portfolio through acquisitions and development. Currently, the company’s portfolio is 97.5 percent leased and, before this purchase, had no land available for development. Duke Realty also owns nearly 5.8 million square feet of industrial space in Northern California, Seattle, and Phoenix that is 100 percent leased.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 156.5 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.