(Minneapolis, Minn. – June 20, 2016) The Minneapolis-St. Paul office of Duke Realty, a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of quality industrial facilities, announces that it is expanding the 150,064-square-foot, build-to-suit warehouse it delivered for Blu Dot, a designer and distributor of modern home furnishings, in May 2015 by 116,200 square feet. The expansion is being built on land adjacent to Gateway North 6301, Blu Dot’s existing building within Gateway North Business Center in Otsego, and will raise Blu Dot’s total leased space within the center to 266,264 square feet. Construction will begin in July with completion slated for January 2017.
“When we developed Blu Dot’s original 150,000-square-foot building last year, we set aside 5.95 acres adjacent for expansion,” said Josh Budish, Vice President of Leasing and Development for Duke Realty in Minneapolis. “We are pleased that their ongoing growth and satisfaction with their current facility have given us another opportunity to deliver quality space for them and their operations.”
“Our building at Gateway North has greatly enhanced our ability to grow,” said Maurice Blanks, Co-founder and COO of Blu Dot. “Duke Realty did a great job on our original building, and I’m confident they will again deliver a quality facility that meets our needs.”
Just like Gateway North 6301, Blu Dot’s expanded facility will include rear loading, 32’ clear height and 45′ x 50′ bay spacing. An additional 12 dock doors and one drive-in door will be incorporated into the expansion.
Neil Kolatkar and Dan Swartz with CBRE represented Blu Dot in the building expansion transaction, while Mr. Budish represented Duke Realty.
Located just north of the I-94/Highway 101 interchange, Gateway Business Center North is a five-building industrial development that fronts Highway 101 between county roads 36 and 37. Since 2014, Duke Realty has delivered 1.3 million square feet of new, modern warehouse space in the park including build-to-suit facilities for Blu Dot, Room & Board, Ruan and Wagner Spray Tech. Following Blu Dot’s expansion, Gateway North Business Center is essentially fully developed with remaining land in the park being held for other existing tenants.
Duke Realty has other well-located industrial development sites in the Minneapolis-St. Paul metro area. Parties interested in build-to-suit or lease opportunities are invited to contact Mr. Budish at 952.543.2926.
About Duke Realty
Duke Realty Corporation specializes in the ownership, management and development of bulk distribution and medical office real estate. In the Minneapolis-St. Paul metro area, Duke Realty owns, manages or has under development approximately 4.2 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 1600 Utica Avenue South, Suite 250 in Minneapolis.
On a nationwide basis, the company owns, maintains an interest in or has under development 138 million rentable square feet 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. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.