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Duke Realty Expands Industrial Footprint in Northern California
A flurry of planned developments will increase the company’s portfolio in the region by 1 million square feet. Feb232021
Rendering courtesy of Duke Realty
Duke Realty has expanded its California footprint with the acquisition of two industrial buildings with redevelopment potential in Oakland, as well as 17.4 acres of land in San Jose and 7.9 acres of land in Richmond, where the company plans new projects. Duke’s expansion strategy in the region also calls for the construction of a 346,860-square-foot speculative development on a 19.8-acre site in Lathrop, Calif.
One of the Oakland facilities, located at 955 Kennedy St., was built in 1968. The 119,000-square-foot asset is situated within 7 miles from Oakland International Airport. CommercialEdge data indicates that Duke Realty purchased the 5-acre site for $22 million in September 2020. That same month, Duke Realty also bought the second Oakl
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