While the industrial market has benefitted from the dynamics of the pandemic and the connected recession, developers largely paused speculative development activity due to the sudden market uncertainty. Developer Duke Realty, however, is confident in the demand for speculative development. The firm has broken ground on a 1.2 million square foot industrial facility in Perris, California.

“All developers stopped new speculative construction at the start of the pandemic including Duke Realty,” Jim Connor, chairman and CEO of Duke Realty, tells GlobeSt.com. “This enabled demand to catch up. During the third quarter, we fully leased a 1.1 million square foot property in Southern California that was started on a speculative basis in the fourth quarter of 2019 and is scheduled to be delivered in early 2021. Due to our ability to consistently lease up our speculative space, we began two new speculative development projects during the third quarter of 2020, the 728 West Rider Street facility in Southern California and the Duke Sumner Logistics Center in the Seattle market, totaling 1.4 million square feet.”

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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