Duke Realty : Development Start and Two Building Acquisitions Grow Duke Realty’s Southern California Portfolio to ~16.1M SF

IRVINE, Calif. - February 24, 2021 - 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, recently started a speculative 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 billion.

Duke Realty is constructing a 146,068-square-foot logistics facility to LEED® Silver certification standards at 13215 Cambridge Street in Santa Fe Springs. The company's two acquisitions include:

14508 Nelson Avenue, Industry, CA

• 202,541-square-foot building on 9.24 acres at 14508 Nelson Avenue in Industry, California currently leased to Troy-CSL Lighting Inc., a manufacturer of energy efficient lighting products;
• 94,140-square-foot building on 8.6 acres at 20915 S. Wilmington Avenue in Carson, California 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 million square feet 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.'

13215 Cambridge Street development

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 freeway.

The acquisition of the 14508 Nelson Avenue 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.

20915 S. Wilmington Avenue, Carson, California

The facility at 20915 S. Wilmington Avenue 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.

'At Duke Realty, we specialize in modern facilities designed for logistical efficiency and when researching potential acquisitions, convenient locations and infill acquisition opportunities remain a priority,' said Michael Chukwueke, vice president of acquisitions and development for Duke Realty's Southern California market. 'The increase in e-commerce activity has accelerated our clients' need to improve their supply chain and infill locations make it easier to meet delivery demands and timelines.'

About Duke Realty

On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 159 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.