Just months after announcing that it was starting three spec developments across the greater Bay Area, Duke Realty and its brokers announced that one of the properties has been fully leased. The building 157,725-square-foot industrial facility in Hayward, which the company leased to Marseille, France-based global logistics and supply chain company CEVA.
According to a statement by CBRE, the firm’s Oakland and Cincinnati teams represented the tenant in the transaction, while CBRE’s Oakland office worked with the landlord.
The property is located at 24493 Clawiter Road in Hayward. The planned industrial facility will be 157,725 square feet with a 36-foot minimum clear height, 24 dock high doors, 65 trailer parking stalls and 79 car spaces, according to a statement from Duke Realty. The project is strategically situated near the San Mateo Bridge and I-880 with access to the Port of Oakland, San Francisco International Airport, Oakland International Airport and is within a 40-minute drive to 80 percent of the Bay Area and the San Francisco Peninsula. Listing brokers are Bob Ferraro, Kevin Hatcher and Chris Van Keulen with CBRE.
The other two facilities that Duke announced in May of this year are a 302,772-square-foot development in San Jose and a 153,803-square-foot development in Richmond.
“Northern California’s industrial market continues to see strong demand given its dynamic consumer base, limited supply and high-barriers to entry,” said Janet Galvez, vice president of leasing and development for Duke Realty in Northern California in a statement. “We are working with experienced local brokers and clients looking for modern, efficient facilities with heavy power and flexible floor plans that can accommodate a variety of uses.”
All facilities are being constructed to LEED certification standards — meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management, Duke said in a statement. These innovative and sustainable facilities are expected to be complete in early 2023. With the addition of these three properties, Duke Realty’s Northern California portfolio is at 4.1 million square feet, the firm concluded.
Also early this year, San Francisco-based Prologis announced that it was acquiring Indianapolis-baed Duke Realty in an all-stock transaction, valued at approximately $26 billion, including the assumption of debt. Prologis plans to hold approximately 94 percent of the Duke Realty assets and exit one market, according to the companies’ statements.