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Duke Leases 824K SF, Acquires Pair of ‘Last Mile’ Facilities
Duke Realty executed 824,363 square feet of leases at newly-developed or recently-acquired buildings in SoCal. The Indianapolis-based REIT also expanded its portfolio with the acquisition of two, fully-leased ‘last mile’ buildings totaling 119,431 square feet.
Duke Realty’s Chris Burns says, “Duke Realty continues to grow its Southern California portfolio with modern, well-located properties, which have helped us benefit from strong market fundamentals.”
The company pre-leased an under-construction building at 16171 Santa Ana Ave. in Fontana to Sub-Zero. The 282,154-square-foot building is scheduled for delivery in August.
Full-building leases were signed at two properties acquired in 2017, including 9988 Redwood Ave., a 214,431-square-foot warehouse in Fontana, which is now 100% leased to NRI USA; and 825 Ajax Ave., a 327,778-square-foot building in City of Industry, which is leased by Sealy Mattress (pictured above).
The two buildings acquired are located at 500 and 700 Burning Tree Rd. in Fullerton.
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