(Minneapolis, Minn. – May 1, 2017) Duke Realty Corporation’s (Duke Realty) Minneapolis-St. Paul office announces it has executed a long-term lease agreement with MyPillow, Inc., a manufacturer, distributor and seller of pillows and bedding products, for 172,836 square feet of Gateway South 2101, a new 374,700-square-foot warehouse it is developing in Shakopee. MyPillow will consolidate operations from three facilities in Shakopee into the new building which is located within Gateway South, Duke Realty’s industrial park at Highway 101 and Shenandoah Drive. The new building, which has 201,864 square feet still available for lease, is slated for completion in October 2017.
“We are very pleased to be able to accommodate MyPillow’s growth needs with the development of this new building,” said Josh Budish, Duke Realty’s Vice President of Leasing and Development. “This site is well located with multiple access points from 101 and 169, making it ideal for MyPillow’s operations.”
Gateway South 2101 will be Duke Realty’s second warehouse facility developed on 46.12 acres along the Highway 101 corridor in Shakopee that it acquired in September 2015. The other building, Gateway South 2301, is a 242,004-square-foot, build-to-suit for Milestone Technologies that was delivered in August 2016.
The new 312′ x 1,198′ facility will have 32′ clear height, T-5 HO fluorescent lighting and a 45 mil. ballast EPDM roof. The building will include 38 – 9′ x 10′ dock doors, of which MyPillow will use 18, leaving 20 dock doors available for prospective tenants. Surrounding the building will be 395 automobile parking spaces of which 208 are allocated to MyPillow. A roadway on the west side of the building will aid in traffic circulation around the building and additional tenant parking needs.
Brian Netz with Colliers represented MyPillow in the transaction, while listing agent Kris Smeltzer with Cushman & Wakefield/Northmarq and Mr. Budish represented Duke Realty
Parties interested in leasing space in Gateway South 2101 are invited to contact Kris Smetlzer with Cushman & Wakefield at 952.837.8575.
About Duke Realty
Duke Realty owns, manages or has under development 4.6 million square feet of industrial properties in the Minneapolis-St. Paul area. Duke Realty’s local offices are located at 1550 Utica Avenue South, Suite 420 in Minneapolis.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 142 million rentable square feet of bulk distribution and medical office real estate in 21 major U.S. metropolitan areas. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. 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.