(Dallas, TX ‒ June 5, 2018) The Dallas office of Duke Realty Corporation (NYSE: DRE), the leading domestic-focused industrial property REIT (Real Estate Investment Trust) in the country, announces that it is constructing a new 635,000-square-foot bulk distribution facility in Flower Mound, Texas, of which 71 percent has been preleased by PPG. PPG will use the facility as a distribution center for its architectural paints and coatings. The remaining 185,000 square feet in the 36′ clear, cross-dock building is available for lease.
Located at 1001 Lakeside Parkway in Duke Realty’s Lakeside Ranch development, the new facility is slated for delivery in May 2019 and will complement Duke Realty’s existing infill industrial portfolio that lies just north of DFW International Airport.
“We are excited to expand our portfolio in the Dallas-Ft. Worth metro area, and grateful that PPG has entrusted us to deliver this facility which will be a key component in their operations,” said Jeff Thornton, Senior Vice President of Duke Realty’s Texas operations. “This new building will provide exceptional highway access plus incorporate state-of-the-art, modern features that will help enhance PPG’s ability to efficiently serve their customers in the southwestern United States.”
“Both Mayor Tom Hayden and Director of Economic Development Andrea Roy have been incredibly helpful. We are truly grateful for their support and involvement,” said Mr. Thornton.
“I also would like to thank the brokerage team involved in the transaction,” added Mr. Thornton. Trevor Ragsdale, Craig Jones and Tom McCarthy with JLL did an exceptional job, while Randy Wood with our team worked tirelessly on behalf of Duke Realty.”
About Duke Realty
In the Dallas-Fort Worth area, Duke Realty owns, manages, or has under development more than 15.8 million square feet of industrial properties and has strategic land positions available for future industrial development. Duke Realty’s local offices are located at14241 N. Dallas Parkway, Suite 1000.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 149 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.