Duke Realty Corporation

12/02/2019 | Press release | Distributed by Public on 12/02/2019 13:13

Duke Realty Constructing 166,000 SF Industrial Building in Greenfield North Business Park

(Raleigh, NC ‒ Dec. 2, 2019) The Raleigh/Washington, DC office of Duke Realty Corporation (Duke Realty), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announced that it is building Greenfield North 1201, a new, speculative, 165,921-square-foot bulk warehouse. Located in Garner just south of Raleigh, Greenfield North 1201 will be the eighth industrial building owned and operated by Duke Realty in Greenfield North Business Park. All of Duke Realty's other buildings in the park are currently 100 percent leased. Construction on Greenfield North 1201 will begin immediately with completion scheduled for July 2020.

'Raleigh remains a strong industrial market for Duke Realty, and Greenfield North Business Park continues to be an attractive destination for businesses looking for high-quality warehouse/distribution space in a central location with superior highway access,' said Battista Orcino, Vice President of Leasing and Development for Duke Realty in Raleigh. 'Since all of our Greenfield North properties are fully leased, we elected to start a speculative building so that we can be positioned to respond to clients with immediate space needs.'

Greenfield North Business Park is a master-planned industrial campus located at the interchange of I-40 and U.S. 70 and the proposed extension of I-540. The park, which is the only rail-served industrial park in the Raleigh area, is within minutes of downtown Raleigh, RDU International Airport and the I-440 Beltline. Leading companies in the park include Atlantic Tire Distributors, Crown Equipment Corporation, Mattress Firm, the North Carolina Department of Transportation, Mohawk, Butterball and Golden State Foods.

Located at 1201 North Greenfield Parkway, Greenfield North 1201 will feature 32′ clear height, 50′ x 50′ column spacing, 30 - 9′ x 10′ dock doors, two 12′ x 14′ drive-in doors, an ESFR fire protection system and 2,400-amp electrical service. Outside the building will be a 120′ truck court and parking for 96 trailers and 129 automobiles.

Duke Realty still has 10.87 acres available for development in Greenfield North Business Park that will support one building totaling approximately 136,400 square feet.

Cushman & Wakefield is the exclusive leasing representative on Greenfield North and all of Duke Realty's assets in the Raleigh/Durham market. Parties interested in leasing space in Greenfield North 1201 or build-to-suit opportunities on the adjacent land are invited to contact Larry Lakins at 919.791.2114, Andrew Young at 919.439.5162 or Hunter Willard at 919.791.2113.

About Duke Realty
In the Raleigh metro area, Duke Realty owns and manages 2.9 million square feet of industrial properties. Duke Realty operates its Raleigh portfolio out of its office located at 2900 S. Quincy Street, Suite 310, Arlington, VA 22206.

On a nationwide basis, Duke Realty Corporation owns and operates approximately 155 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. The company maintains a Baa1 rating from Moody's Investor Service and a BBB+ rating from Standard & Poor's Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.