(Irvine, CA – May 14, 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 800,218-square-foot building at 4501 Patterson in Perris, which started on a speculative basis and is slated for a September 2020 delivery.
“The Inland Empire East submarket continues to be a preferred location by companies looking for large blocks of modern distribution space due to its proximity to the I-215, I-10 and other major highways and interstates,” said Nancy Shultz, Senior Vice President of Duke Realty’s Southern California operations. “Duke Realty continues to grow its portfolio in Southern California and currently has more than 13.6 million square feet of space in 31 buildings.”
4501 Patterson Avenue is being constructed on a 37.3-acre site on the southeast corner of Patterson Avenue and Markham Street. The building, which is being built to LEED® Silver standards, will include 40’ clear height, 117 dock doors, 244 trailer stalls, 359 automobile parking spaces and four grade-level loading doors.
Collin Phillips represented Duke Realty in the transaction.
About Duke Realty
In Southern California, Duke Realty owns, operates or has under construction more than 13.6 million square feet of industrial properties. Its local office is at 200 Spectrum Center Drive, Suite 1600, Irvine, CA 92618.
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.