Duke Fully Leases 200K-SF Industrial Facility in Inland Empire

Duke Realty Corp. has fully leased a 199,472-square-foot speculative industrial development in Ontario. Yaheetech signed a long-term lease agreement for the property, which is slated to deliver in early 2022.

The lease transaction represents an expansion of the West Coast distribution network for Yaheetech, a global e-commerce wholesaler. There is strong demand from users like Yaheetech for warehouse space, but there is limited inventory in the Inland Empire West. The market leads the nation for industrial rent growth over the last year. Research from Yardi Matrix shows the Inland Empire had rent grow of 7.1% in the second half of 2020 through the first half of 2021 Vacancies clocked in at 2% for the IE in May, and research from JLL released earlier this year shows that the market recorded an impressive 26 million square feet of absorption in 2020.