(East Rutherford, NJ – February 14, 2019) The New Jersey office of Duke Realty (NYSE: DRE), the leading domestic-focused logistics property REIT (Real Estate Investment Trust) in the country, announces that construction is underway on a 661,741-square-foot, state-of-the-art bulk warehouse in Newark. The building, which is the largest under-construction speculative bulk warehouse in Northern New Jersey, is slated for delivery in the fourth quarter of 2019. The building is located at 429 Delancy Street, just off of I-95, I-78 and Routes 1 and 9.
“Demand for industrial space in northern New Jersey remains high, resulting in rapidly dwindling availability for companies looking for bulk Class A facilities in this premier distribution market,” said Ben Rosen, Vice President of Leasing and Development for Duke Realty in New Jersey. “Our new building will offer tenants a truly unique opportunity to lease a modern bulk distribution facility with unparalleled access to New York City, Port Newark/Elizabeth, Newark Airport and New Jersey’s most important arterial highways.”
When complete, Duke Realty’s building at 429 Delancy will be highly visible from Routes 1 and 9 and from I-95/New Jersey Turnpike. At only 20 minutes from New York City and 10 minutes from the largest port on the East Coast and with immediate access to the New Jersey Turnpike, I-78, Routes 1 and 9 and Newark International Airport, the building is ideal for e-commerce, port and air cargo users. The state-of-the-art, cross-dock building will incorporate 109 dock doors and four drive-in doors, while features inside the building include 40′ clear height, 55′ x 44′-6″ column spacing, 66′ staging bays and LED motion-controlled lighting. 429 Delancy also has the potential for rail service via Conrail connectivity.
Parties interested in preleasing Duke Realty’s new industrial building at 429 Delancy or in other leasing or build-to-suit opportunities with Duke Realty in New Jersey are invited to contact Mr. Rosen at 201.248.4262.
About Duke Realty
Duke Realty’s New Jersey portfolio currently includes 5.7 million square feet of industrial properties. Duke Realty’s New Jersey office is located at One Meadowlands Plaza, Suite 200, East Rutherford. The office phone number is 484.533.2659.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 153 million rentable square feet of industrial assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.