Duke Realty Corporation
04/14/2021 | Press release | Distributed by Public on 04/14/2021 08:04
Duke Realty Lease Activity Contributes to 2020 Dallas Market 23.2M SF Absorption Rate1
DALLAS - April 14, 2021 - The Dallas office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces more than 740,000 square feet of lease and development activity in the fourth quarter of 2020. This activity includes four lease agreements in Dallas/Fort Worth market totaling 202,659 square feet of space.
- 56,120 square foot space at Crosspoint 3325 in Grand Prairie, Texas leased to World Vision Inc., a global humanitarian organization
- 49,573 square foot space at Freeport III in Coppell, Texas to Cotton Heritage, a wholesale apparel distributor
- 57,234 square foot space at Freeport II in Coppell, Texas to Polymershapes LLC, a premier distributor of plastic sheet, rod, tube, film, and associated products to the Americas
- 39,732 square foot space at Trinity Mills 2853 in Carrollton, Texas to Premier Stair and Door LLC, a residential and commercial stair and millwork fabricator
'Duke Realty is experiencing high demand for modern, conveniently located industrial and logistics real estate in excess of pre-COVID trends. This coupled with high occupancy rates creates a market primed for further development,' said Jeff Thornton, senior vice president, Texas region at Duke Realty. 'We will continue to work with our broker partners to secure and invest in space and land that affords us the opportunity to meet client needs especially in in-fill locations that provide long-term value for our portfolio and ultimately our shareholders.'
Tim Vogds with CBRE, Ken Wesson with Lee & Associates, Mark Collins with Cushman & Wakefield of Texas and Mike Lish with Lish Company represented the tenants and Duke Realty was represented by Bryan Parker, vice president of leasing for its Dallas office.
Duke Realty recently announced the development of a 431,630-square-foot facility distribution facility for Yokohama Tire Corporation at Intermodal III Industrial Park in Wilmer, Texas. The company's Dallas office also recently announced the lease renewal and expansion of its 3200 Kingsley Road facility in Garland, Texas for tenant, Plastipak securing 470,590 square feet of space, lease renewal and expansion of its Freeport II facility in Coppell, Texas for tenant, Premier Logitech securing 178,984 square feet and the lease of 274,994 square feet of space to a global wireless company at Lakeside 350 in Flower Mound, Texas. These transactions contributed to the fourth quarter activity totaling 740,000 square feet.
About Duke Realty
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 159 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.