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2/03/22
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Duke Realty has acquired two industrial buildings totaling 89k sf in Pomona. The buildings are situated on 3.6 acres at 1941 and 1943 West Mission Blvd.
The buildings boast 28’ clear height and 120' truck court, along with immediate access to the I-10, Highway 71 and State Routes 57 and 60. They are centrally located between the Ports of Los Angeles and Long Beach, LAX and Ontario airports, and the San Bernardino Intermodal Rail Yard.
The properties are immediately adjacent to 468 South Humane Way, which the company acquired last year. All facilities are in Southern California’s highly in-demand San Gabriel Valley submarket where the vacancy rate is below one percent.
“As demand for industrial space in Southern California continues at all-time highs, we were extremely fortunate to finalize the acquisitions of these facilities so close to our recently acquired property at South Humane Way,” said Isaac Lau, assistant vice president of acquisitions for Duke Realty. “This perfectly aligns with Duke Realty’s strategy to acquire well-appointed logistics facilities in submarkets where we are seeing strong rent growth and record-low vacancy rates.”
“Land and space are extremely tight in Southern California, but our continued investments in this highly competitive landscape are securing our position as a market leader and maintaining our reputation as a preferred landlord with high-quality, conveniently-located assets,” said Nancy Shultz, regional president of Duke Realty’s Western Region. “The San Gabriel Valley submarket continues to appeal to companies looking for distribution space close to the nearly 15 million residents who live within a 50-mile radius and now we have 1.51 msf of space in the submarket.”
Brad Yates and Stefan Pastor from Colliers represented the seller, while Isaac Lau repped Duke Realty in the transaction. With this addition, Duke Realty’s Southern California portfolio now exceeds 19 msf.
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