DUKE REALTY CO. 
By
(Dallas, Tex. - Jan. 3, 2012) Duke Realty Corporation's (Duke
Realty) Dallas office announces that the company has
completed two acquisitions in the Dallas-Fort Worth area,
adding two industrial buildings totaling 1,352,185 square
feet and three parcels of land totaling 97.869 acres. The
building acquisitions include Lakeside Ranch Building 20, a
748,831- square foot Class A bulk industrial building in
Flower Mound, and Pioneer 161, a 603,354-square foot, Class A
facility in Grand Prairie. Two of the undeveloped land sites
- a 32.483 acre parcel and an 18.234 acre site - are located
in the D/FW Airport submarket, and the other 47.152 parcel is
in the South Dallas submarket.
Two separate transactions were involved in the total
acquisition volume outlined above. The 748,831-square
foot
Lakeside Ranch building and 98 acres of land were purchased
from Cousins Properties. The 603,354-square foot Pioneer
161 building was purchased from RREEF Real Estate.
"The acquisition of these industrial properties and land
holdings is consistent with Duke Realty's strategy to
increase its investment in industrial assets in key
distribution markets," said Jeff Turner, Executive Vice
President for Duke Realty's South and West Regions. "The two
bulk warehouses meet all of our requirements for location and
building features, making them excellent additions to our
local portfolio, while the land acquisitions provide us with
strategic positions for future, large developments."
"The purchase of these two industrial buildings has increased
our holdings in two key Dallas submarkets, and the land we
have acquired puts us in an excellent position to respond to
clients' needs for new, large blocks of space," said Jeff
Thornton, Senior Vice President of Duke Realty's Dallas
operations. "All of the land is located in prime industrial
areas and, in total, will support the development of
approximately 2 million square feet of new bulk warehouse
space. Furthermore, the parcels in the D/FW Airport submarket
allow us to continue to grow in our flagship submarket where
Duke Realty already owns and manages approximately six
million square feet of industrial space. The other parcel,
which is located in Lancaster, is a prime site with frontage
on I-35, the NAFTA Corridor. These land positions, coupled
with our expertise in meeting the demands of bulk warehouse
users desiring to build-to-suit a new facility, will enable
us to efficiently serve businesses looking to expand in the
Dallas-Fort Worth market."
Speaking in regard to the transaction between Cousins
Properties and Duke Realty, Jack Fraker, Vice Chairman and
Managing Director for Investment Properties with CBRE, said,
"Our team enjoyed the opportunity to work on this truly Class
A property. Both the seller and buyer worked together in a
highly professional manner to ensure a very successful
transaction."
Jud Clements, Managing Director with Holliday Fenoglio
Fowler, commented on the transaction between RREEF and Duke
Realty, "It was truly a pleasure working with these best in
class institutional owners, and our team is extremely happy
that we were able to help facilitate a successful transaction
between these two parties."
The Lakeside Ranch 20 building is located in Lakeside Ranch
Business Park in Flower Mound and is 90.9 percent leased to
two tenants, HD Supply Facilities Maintenance, a provider of
maintenance repair and operations products, and Owens
& Minor Distribution, a third-party logistics company for its
parent company which distributes national name-brand medical
and surgical supplies. Pioneer 161 is located in Grand
Prairie with immediate access to Highway 161, which is
currently
Duke Realty Corporation
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under construction and will connect I-20 and I-30 upon
completion. The building is 100 percent leased to Solo Cup, a
manufacturer and supplier of paper and plastic disposable
foodservice and food packing products.
Jack Fraker, Josh McArtor, Chris Riley, Frank Fallon and
Brian Budnick with CBRE marketed Lakeside Ranch Building 20
and the three land parcels on behalf of Cousins
Properties.
Jud Clements, Randy Baird, Robby Rieke and Nick Cassavechia
with Holiday Fenoglio Fowler marketed Pioneer 161 on behalf
of RREEF. Duke Realty represented itself in both of the
transactions.
In the Dallas-Fort Worth area, Duke Realty owns, manages, or
has under development more than 16 million square feet of
industrial and healthcare properties and has strategic land
positions available for future development. Duke Realty's
local offices are located at 14241 N. Dallas Parkway, Suite
1000.
On a nationwide basis, Duke Realty owns and operates
approximately 143 million rentable square feet of industrial
and office assets, including medical office, in 18 major U.S.
cities. Duke Realty Corporation is publicly traded on the
NYSE under the symbol DRE and is listed on the S&P MidCap 400
Index. More information about Duke Realty is available at
www.dukerealty.com.
| distribué par | Ce noodl a été diffusé par Duke Realty Corporation et initialement mise en ligne sur le site http://www.dukerealty.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-01-03 17:18:22 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
| Documents associés | |
| Duke Realty Acquires 1.3 Million Square Feet of Industrial Properties and 98 Acres of Land in Dallas |
