Duke Realty Announces Two Development Starts Totaling More Than 1.8M SF in Chicago Market

National Retailers Drive Market Growth with Build-to-Suit Projects and Long-Term Lease

CHICAGO — March 16, 2021 — The Chicago office of Duke Realty (NYSE: DRE), the leading domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces the construction of two build-to-suit developments totaling 1,855,620 square feet of state-of-the-art warehouse logistics space for two national retail giants. Duke Realty has started construction on a 1,200,420-square-foot e-commerce fulfillment center for Wayfair LLC (Wayfair) at Airport Logistics Center Phase II in Romeoville, Illinois. Additionally, Duke Realty is constructing a 655,200-square-foot build-to-suit facility in Bedford Park, Illinois for a national home improvement retailer.

Airport Logistics Center Phase II at 1040 West Renwick Road in Romeoville, Illinois

“Increased e-commerce activity continues to be a growth driver for Duke Realty and has accelerated the need for state-of-the-art industrial space and opportunities for infill redevelopment,” said Susan Bergdoll, vice president of leasing and development overseeing Duke Realty’s Chicago and Minneapolis operations. “These two large-scale projects accommodate our customers’ requirements for modern, convenient facilities close to airports, interstate highways and consumers in a community with a robust talent pool. We are proud to play a significant role in adding jobs to Chicagoland.”

Duke Realty’s 1,200,420-square-foot development on 81.8 acres at 1040 West Renwick Road in Romeoville will serve as a Wayfair fulfillment center. The site location met Wayfair’s requirement to be in an area with a strong talent pool as it plans to employ as many as 500 workers during peak times of the year. Wayfair will occupy 100 percent of the facility and has agreed to a long-term lease.

Duke Realty’s 655,200-square-foot planned development at 6600 West 68th Street in Bedford met the national home improvement retailer’s need for an infill location with access to a short line railroad. The planned development will serve as bulk and flatbed distribution centers to meet same-day and next-day delivery needs of its customers with close proximity to Interstates 294 and 55. The facility will include 46 dock doors, 293 trailer spaces and 205 car spaces. The national retailer will occupy 100 percent of the facility once complete and has agreed to a long-term lease.

Duke Realty will seek LEED® certification for all of its planned developments.

“Duke Realty’s investment strategy aligns with our customers’ demands for updated facilities and convenient locations,” said Bergdoll. “As we pursue strategic growth opportunities in Chicago, we are focused on infill locations where we can redevelop and provide tenants with the best-in-class facilities we are known for.”

Duke Realty worked closely with tenant brokers, John Suerth and Jon Varholak from CBRE and listing brokers, Jason West and Sean Henrick from Cushman & Wakefield in negotiating the 1040 West Renwick Road project. Additionally, Tony Kepano and Matt Mulvihill at CBRE served as the tenant representative and Chris Gary at NAI Hiffman served as the listing broker for the 6600 West 68th Street project.

These transactions were among various developments announced as part of the company’s first quarter activity.

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