September 21, 2016
Duke Realty Corporation acquired 22.67 acres of land in La Mirada, CA slated for future development. The site is located directly north of Duke Realty’s 497,620-square-foot building, and is in a high-demand distribution market just off I-5.
The Indianapolis, IN-based industrial developer plans to build a roughly 475,000-square-foot, cross-dock facility, with parking for 331 automobiles and 83 trailers.
Duke Realty’s Chris Burns says the land is ideally located for warehouse/distribution clients, and gives them the “ability to own two buildings adjacent to one another, which would be attractive to tenants seeking a large concentration of space or campus layout.”
It is the third recent transaction made by Duke Realty as it expands its SoCal portfolio.
Colliers International’s Clyde Stauff and Brett Hardy represented the undisclosed seller. Duke Realty was self-represented.
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