10C — May 25 - June 7, 2018 — Industrial / Distribution Centers — M id A tlantic
Real Estate Journal
I ndustrial R eal E state & D istribution C enters Building a portfolio that’s second-to-none New Jersey and Pennsylvania are key markets in Duke Realty’s industrial growth A vacancy rates and growing rents.
distribution hubs because of their unrivaled access to a large segment of the U.S. population, specifically the densely populated New York City metropolitan area. In addition, both Northern New Jersey and the Lehigh Valley are well served by the interstate system, putting them within a day’s drive of more than 40 percent of the population of the United States and Canada. As a result, these markets have been two of the healthiest in the country over the last few years with historically low
leading pure-play in- dustrial real estate company, Duke Real- ty has focused on growing its portfolio in the top-tier logis- tics markets in the United States. In keeping with that strategy, the company has concentrated its efforts in Northern New Jersey and the Lehigh Valley in Penn- sylvania – two areas that have consistently been at the top of the list of locations for companies’ warehouse and distribution operations. Both markets continue to be the most in-demand
In Pennsylvania, Duke Realty’s main developments include 33 Logistics Park, a three-building, 2.7 million s/f industrial park in Easton, and Central Logistics Park in Myerstown. In 33 Logis- tics Park, the first two build- ings Duke Realty delivered are 100 percent leased. The third building, a 1 million s/f bulk industrial facility, is slated for delivery in June 2018 and is available for lease. Duke Realty’s first building at Central Logis- tics Park is currently under construction. The 832,000 s/f facility will be complete in July and does not currently have a signed tenant. In New Jersey, Duke Realty developed Legacy Commerce Center, a three- building industrial hub with 1.1 million s/f of warehouse space in Linden on the site of a former GM plant. All three buildings at Legacy Commerce Center are fully leased. Late last year, Duke Realty completed the ac- quisition of six industrial buildings and two land sites totaling 3.1 million s/f along the I-95 corridor starting at Exit 8A and continuing north to the Meadowlands submarket. All of the build- ings are brand new with modern features. Though five of the six buildings are 100 percent leased, ePort 960, a 220,200 s/f warehouse is available for lease. On the acquired parcels, con- struction has begun on two new buildings including 429 Delancy St. in Newark total- ing 661,000 s/f and 5 Ethel Blvd. in Carlstadt totaling 194,000 s/f. Both buildings are available for lease. Going forward, Duke Re- alty will continue to look for development opportunities, as well as desirable build- ings to acquire in both New Jersey and Pennsylvania. The company’s past suc- cesses are proof that entry in these dynamic markets is possible, as is building a portfolio that’s second-to- none in terms of location and quality. Duke Realty Corpora- tion owns and operates approximately 149 mil- lion rentable s/f of indus- trial assets in 20 key U.S. logistics markets.
ePort 960 in Perth Amboy, NJ
FROM COAST TO COAST
From east coast to west coast and nearly everywhere in between, you’ll find Duke Realty industrial properties in the top-tier distribution markets around the country. We’ve strategically placed our buildings near key trucking, rail, air and shipping corridors, giving you access to the transportation methods that work best for you.
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