Three industrial properties acquired in Minneapolis
(Minneapolis, Minn. – Dec. 6, 2011) Duke Realty Corporation’s (Duke Realty) Minneapolis office announces that the company has acquired three industrial buildings—two in Roseville and one in Shakopee—totaling 356,143 square feet. The acquisition increases Duke Realty’s Minneapolis industrial portfolio by more than 10.6 percent to 3.7 million square feet. Duke Realty’s nationwide industrial portfolio is now more than 108 million square feet. All the acquired industrial properties in Minneapolis are 100 percent leased.
“The acquisition of these three industrial properties is consistent with Duke Realty’s strategy to increase its investment in industrial assets in strong distribution markets,” said Pat Mascia, Senior Vice President, Minneapolis operations. “These properties meet all of our requirements for location and building features, making them excellent additions to our local portfolio.”
The two Roseville properties include I-35 Business Center located at 2215 Highway 36 West and the FujiFilm building located at 2420 Long Lake Road. I-35 Business Center is a 121,699-square foot building leased to Milestone, an audiovisual equipment supplier, and Reliable Sprinkler, a fire sprinkler and sprinkler system control equipment company. The FujiFilm building totals 76,800 square feet.
Located at 3880 4th Avenue East in Shakopee, the Minnesota Valley West building totals 157,644 square feet and is fully leased to COKeM, a video game and computer software distributor.
About Duke Realty
In addition to its Minneapolis industrial portfolio, Duke Realty also owns and manages The Shops at West End, a 381,922-square foot, outdoor lifestyle center with popular retail shops, restaurants, and public gathering places in St. Louis Park and a portfolio of Class A office buildings. Duke Realty’s local offices are located at 1600 Utica Avenue South, Suite 250, Minneapolis, MN 55416.
On a nationwide basis, Duke Realty owns and operates approximately 143 million rentable square feet of industrial and office assets, including medical office, in 18 major U.S. cities. Duke Realty Corporation 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 is available at www.dukerealty.com.