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3/01/21
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Duke Realty Corporation recently started a spec development and acquired two in-service facilities in Los Angeles County. This activity increases the company’s investment in Southern California to more than $2 bil.
13215 Cambridge, Santa Fe Springs |
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On the development side, Duke Realty is constructing a 146k sf logistics facility to LEED® Silver certification standards at 13215 Cambridge St in Santa Fe Springs. The company’s two acquisitions include:
• 202.5k sf building on 9.24 acres at 14508 Nelson Ave in Industry, currently leased to Troy-CSL Lighting Inc, a manufacturer of energy efficient lighting products
• 94.1k sf building on 8.6 acres at 20915 S. Wilmington Ave in Carson, currently leased to Univar Solutions USA Inc, a chemical company
All acquisitions and planned state-of-the-art industrial facilities are strategically located with convenient access to major freeways and interstates, proximity to the ports of Los Angeles and Long Beach, the Long Beach Airport and Los Angeles International Airport and millions of consumers, as well as accessible to a robust, diverse talent pool.
“For nearly a decade, we have made strategic moves in Southern California to accommodate customers’ ever-increasing need for modern and conveniently located industrial and logistics facilities,” said Nancy Shultz, senior vice president of the Southern California market for Duke Realty. “We now have 16.1 msf of in-service or under-construction space in Southern California and a steady, measured development pipeline with a commitment to sustainable development practices. As we grow our portfolio, we work with our clients and local officials to create beneficial opportunities for clients, communities and the California workforce.”
The development at 13215 Cambridge Street will be the fourth Duke Realty property in the Mid-Counties submarket. The planned facility will include 32 dock doors, parking for 193 cars and 13 trailers and will have easy access to Interstates 5 and 605 and California’s 91 Fwy.
The acquisition of the 14508 Nelson Ave facility adds to Duke Realty’s portfolio in the San Gabriel submarket where it currently has two in-service facilities and another distribution facility currently under construction in Irwindale. The facility at 20915 S. Wilmington Ave adds a sixth facility to its South Bay submarket footprint. By working closely with local brokers, Duke Realty acquired these infill facilities off market. These investments align with the company’s infill acquisition strategy.
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