On October 12, 2021, Duke Realty announced its Southern California team had preleased a 199,472-square-foot speculative development in the high demand Inland Empire submarket. The long-term lease deal with Yahee Technologies helps expand that global company’s supply chain.
Commercial Property Executive’s Barbra Murray interviewed Duke Realty’s Nancy Shultz, senior vice president and Southern California region leader about the market’s activity.
“We are finding that what we start as a speculative development, is more often than not preleased and coverts to a spec-to-suit project,” Shultz told Commercial Property Executive. “With industrial vacancy rates in the low single digits in Southern California and at only 1 percent in the Inland Empire submarket, we know there is high demand for warehouse and distribution space.”