Duke Realty : Continues Growth, Starts Six Speculative Developments Totaling ~1.4M SF

IRVINE, Calif.- January 31, 2022 - 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, announces the start of six speculative developments totaling 1,472,324 square feet of state-of-the art space. These investments in the most in-demand submarkets of Inland Empire and Orange County expand the company's Southern California portfolio to nearly 21 million square feet.

"We continue to see record-breaking rent growth and record-low vacancy rates in Southern California creating a dire need for space for companies trying to meet their supply chain demands and consumers' appetite for prompt delivery," said Nancy Shultz, regional president of Duke Realty's West Region. "Investing in land for trailer storage and constructing state-of-the-art facilities using sustainable development practices can help ease the supply chain strain while positively contributing to the economy of Southern California with added jobs, improved infrastructure and increased revenue to local communities."

The industrial developments include:

• two industrial buildings totaling 418,319 square feet of space at 1861 and 1865 Mountain View Avenue, Redlands in the Inland Empire East submarket;
• a 330,735-square-foot building at 23840 Rider Street, Perris in the Inland Empire East submarket;
• a 187,520-square foot building at 2872 East La Palma, Anaheim in the Orange County submarket;
• a 194,5595-square-foot building at 16225 Slover Avenue, Fontana in the Inland Empire West submarket;
• a 193,077-square foot building at 16171 Slover Avenue, Fontana in the Inland Empire West submarket;
• a 148,078-square-foot building at 131 Perry Street, Perris in the Inland Empire East submarket; and
• a 4.7-acre trailer drop lot that can accommodate 139 trailers at 2801 Lynwood Rd, Lynwood in the South Bay.

All buildings will have 32-foot to 36-foot clear heights, generous dock positions, trailer stalls and car parking to accommodate distribution and warehousing demands. The buildings are being constructed to LEED^® certification standards - meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management.

"We recently announced the preleasing of a 1.2 million square foot speculative development in Inland Empire, and have preleased 11 of our last 12 speculative developments, so we know the demand for space continues," said Collin Phillips, Duke Realty's vice president of leasing and development in Southern California. "Working with our strong network of broker partners, we anticipate these new developments will generate similar interest and prelease activity."

Phillips and colleague Jake Smith, vice president of leasing and development in Southern California for Duke Realty can be contacted for leasing opportunities at the facilities at collin.phillips@dukerealty and [e-mail], respectively.

131 Perry Street, Perris, California

2872 East La Palma Street, Anaheim, California

16171 Slover Avenue, Fontana, California

16225 Slover Avenue, Fontana, California

23840 Rider Street, Perris, California