IRVINE, Calif. — 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, preleases 148,078-square-foot speculative development at 131 Perry Street in Perris to Universal Shipping Inc., (USI) a RAK Logistics company. Additionally, JW Fulfillment, a leading multinational technological logistic company, leased 10905 Beech Avenue in Fontana, a 173,121-square-foot facility.
“Demand for industrial space in Southern California is at all-time highs and our customers are looking for logistics space that can accommodate tight delivery expectations,” said Collin Phillips, Duke Realty’s vice president of Leasing and Development in Southern California.
“These modern facilities in the Inland Empire offer convenience to major thoroughfares and access to millions of consumers. Duke Realty continues to invest heavily in the market to expand our 21 million square foot Southern California portfolio to meet growing supply chain needs.”
These facilities have dozens of dock doors and adequate trailer and car parking to accommodate distribution and warehousing demands. They are built to LEED® certification standards — meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management. Duke Realty expects to deliver 131 Perry Street in August 2022 and 10905 Beech Avenue was completed in March 2022.
Phillips, Clyde Stauff and Jace Gan at Colliers International in Irvine represented Duke Realty in lease negotiations. Mac Hewitt and Hunter McDonald at JLL represented USI. Phillips, Ian Devries and Chris Devries at Colliers represented Duke Realty, while Frank Zhang at Pinnacle Real Estate Group represented JW Fulfillment.