Bulk warehouse acquisition includes Ft. Worth property
(Dallas, TX – October 11, 2011) Duke Realty Corporation’s (Duke Realty) Dallas office announces that the company has acquired three industrial buildings—one in Fort Worth, Texas and two in the Chicago, Ill. area—totaling 693,938 square feet. The Fort Worth building totals 328,828 square feet and increases Duke Realty’s Dallas/Ft. Worth metro area industrial portfolio to more than 13.7 million square feet. Duke Realty’s nationwide bulk warehouse portfolio is now more than 102.2 million square feet. All of the acquired bulk warehouse facilities 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 key distribution markets,” said Jeff Thornton, Senior Vice President, Dallas Operations. “The Fort Worth property is a state-of-the-art, Class A bulk warehouse building located in the heart of one of Dallas/Fort Worth’s core submarkets, making it an excellent addition to our local portfolio.”
Located at 3300 High River Road in the RiverPark Industrial Park, the Fort Worth industrial facility is leased by Pratt Industries, a manufacturer and distributor of corrugated boxes, other packaging materials, and displays. The facility provides ready access to SH 360, SH 183 and I-30 and is located less than two miles from the Dallas/Fort Worth International Airport. Delivered in 2007, this modern, cross-docked facility features a 10,412-square foot office, 60 dock doors, four drive-in doors, 32′ clear height, and 54′ x 43.9′ bay spacing.
Mike Caprile, Ted Staszak, Stephanie Park, Jack Fraker and Josh McArtor with CB Richard Ellis represented the seller in the transaction.
About Duke Realty
In the Dallas/Fort Worth area, Duke Realty owns, manages, or has under development more than 15 million square feet of office, industrial and healthcare properties and has strategic land positions available for future development. Duke Realty’s local offices are located 14241 Dallas Parkway, Suite 1000 in Dallas.
On a nationwide basis, Duke Realty owns and operates approximately 141 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.