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.

Located at 1532 South Vineyard Avenue in Ontario, Duke's development was well positioned to capture that demand. The facility is well located with easy access to the coastal markets. It also features 36 feet of clear height, 25 dock doors, 21 trailer parking spaces in a large, secured yard and 120 auto spaces. With a commitment to sustainability, the property is being built to LEED Silver certification standards, which Nancy Shultz, senior vice president of Duke Realty's Southern California operations, says will help to create long-term value for the property.