French Logistics Company Leases 157K SF In Hayward Industrial Project
Duke Realty Corp. leased a 157K SF speculative industrial development in Hayward, California, to CEVA Logistics, a France-based global logistics and supply chain company.
The planned development at 24493 Clawiter Road is slated to contain 24 dock-high doors, 65 trailer parking stalls, 79 car spaces and a 36-foot minimum clear height, according to a statement from Duke Realty given to The Registry, which first reported the lease Monday.
CBRE represented both parties in the transaction.
The property is one of three speculative developments that Duke Realty has planned for the Bay Area, including a 300K SF property in San Jose and a 153K SF property in Richmond, California.
The San Jose property is located at 5853 Rue Ferrari, taking the place of two office buildings. The Richmond property is at 731 West Cutting Blvd., and it will replace three structures on the site.
Duke remains on industrial development in the Bay Area. The company also purchased the site of a former scrap metal foundry in Oakland in May, with plans to redevelop the location into a 325K industrial building.
The East Bay’s low industrial vacancy rate has been a boon for speculative development. JLL reported nearly 2M SF in industrial product under construction in the East Bay for Q2 of this year, with a total vacancy rate of 4.5%.
