National Association of Industrial and Office Properties (NAIOP) conferred three Awards of Excellence on our Chicago team in 2011. The Duke Realty projects and their respective honors are: Butterfield 550—Industrial Speculative Development of the Year Navistar—Redevelopment of the Year Follett Corporation—Broker Transaction of the Year
Duke Realty Corporation’s (Duke Realty) Chicago office announces that the company has acquired a nine-building industrial portfolio totaling 1,787,746 square feet, with 84 percent or 1,498,449 square feet in eight buildings in Chicago-area submarkets.
Philips Electronics, a diversified health and well-being company, and a leader in healthcare, lifestyle and lighting, has signed a long-term lease renewal for 73,753 square feet in Duke Realty’s O’Hare International Center I, where it has been a tenant since 1987.
Duke Realty Corporation’s (Duke Realty) Chicago office has announced that State Farm will now occupy 69 percent of its nine-story office building located at 1400 Opus Place in Downers Grove, Ill.
Duke Realty Corporation’s (Duke Realty) Chicago office announces that the company has acquired three industrial buildings—two in the Chicago area and one in Fort Worth, Texas—totaling 693,938 square feet.
Duke Realty Corporation’s (Duke Realty) Chicago office announces that it closed several transactions involving its industrial properties in May and June. During the two months, more than 1.4 million square feet in leases were signed in five buildings and another building was sold.
If leasing due diligence is like passing through airport security, one could say that tenants usually endure the equivalent of full-body scans and pat-downs while landlords sail through the “fast lane.” Historically, prospective office and industrial tenants have undergone close scrutiny from developers and landlords to assess their creditworthiness.
Duke Realty Corporation’s (Duke Realty) Chicago office announces that Follett Higher Education Group (Follett), a division of Follett Corporation that operates college bookstores in the United States and Canada, has entered into a long-term lease of Butterfield 550, its 551,200-square foot warehouse/distribution building in Aurora, Ill.
During tough economic times, the first reaction of many companies is to cut spending, which often means cutting marketing. That’s because marketing often is considered an unnecessary expense, especially when “nobody’s leasing space anyway.”
Duke Realty Corporation’s (Duke Realty) Chicago office announces that it has leased 23,404 square feet in West Lake at Conway, a Class A suburban office building it owns and manages in Lake Forest, Ill., to Omron Healthcare, a medical products distribution company.