(Irvine, CA – October 6, 2020) 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, announces that it has signed a long-term lease for a logistics building currently under construction in the Inland East submarket of Southern California. The recently executed lease is for the entire 1,079,236-square-foot building at 9180 Alabama Street in Redlands, which started as a speculative development, and is slated for an April 2021 delivery.
“Duke Realty continues to invest heavily in the Southern California market — strategically capitalizing on preferred locations like the Inland Empire East submarket with its highly desirable proximity and access to I-210, I-10 and other major highways and interstates,” said Nancy Shultz, senior vice president of Duke Realty’s Southern California operations. “We currently have more than 13.6 million square feet of space in 31 buildings in our Southern California portfolio and many of our buildings accommodate tenants’ needs for large blocks of modern distribution space.”
9180 Alabama Street is being constructed on a 54.7-acre site on the southeast corner of Alabama Street and Palmetto Avenue. The building, which is being built to LEED® Silver standards, will include 40’ clear height, 162 dock doors, 330 trailer stalls, 458 automobile parking spaces and four grade-level loading doors.
“Approximately one third of Duke Realty’s leasing and development activity across the country is e-commerce related — these are companies looking for logistics space with convenience to major thoroughfares like we have at 9180 Alabama Street,” said Collin Phillips, vice president of leasing and development, Duke Realty. “By working closely with broker partners, we were able to meet specific needs for the third-party logistics tenant looking to expand its distribution network and secured a long-term lease agreement.”
About Duke Realty
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 156 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.