(Dallas, TX ‒ Nov. 3, 2017) The Dallas office of Duke Realty Corporation, the leading U.S. domestic-focused industrial property REIT (Real Estate Investment Trust), announces that it has executed a long-term lease agreement for an 874,566-square-foot, build-to-suit distribution facility with Wayfair, one of the world’s largest online destinations for the home. Construction on the building, which is being built on 47.15 acres with frontage on I-35 north of Wintergreen Road and south of I-20 in Lancaster, TX on Duke Realty’s Interchange 35 site, began November 1.
“Wayfair is a valued customer with warehouse operations in several Duke Realty buildings around the country. We are excited to continue our partnership with them by delivering a new, state-of-the-art facility in South Dallas,” said Jeff Thornton, Senior Vice President of Duke Realty’s Texas operations. “This new facility will provide excellent interstate access and incorporate modern features that are designed to enhance storage, distribution and fulfillment capabilities.”
Wayfair’s new facility, which will be visible from I-35, will incorporate 36′ clear height, more than 14,000 square feet of office space, 187 trailer storage stalls and 250 automobile parking space. As part of the building construction project, West Drive on the north side of the building, will be expanded by two additional lanes.
“We appreciate the support we received from the City of Lancaster on this transaction and their willingness to work with our development group to ensure that we will be able to deliver Wayfair’s new building on time,” added Thornton.
John Brewer, Ben Phillips, John Lasher and Jon Varholak with Transwestern Commercial Services represented Wayfair in the transaction, while Duke Realty was represented by Matt Hyman who serves as Senior Leasing Representative for Duke Realty.
About Duke Realty
In the Dallas-Fort Worth area, Duke Realty owns, manages, or has under development more than 15 million square feet of industrial properties and has strategic land positions available for 3.0 million square feet of 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 144 million rentable square feet of industrial assets in 21 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.