Bulk warehouse acquisitions located in Elk Grove, Carol Stream and Fort Worth
(Chicago, Ill. – Sept. 14, 2011) Duke Realty Corporation’s (Duke Realty) Chicago office announces that the company has acquired three industrial buildings—two in the Chicago area and one in Fort Worth, Texas—totaling 693,938 square feet.
The Chicago portion of the acquisition, which includes a 253,000-square foot building in Elk Grove Village and an 112,110-square foot facility in Carol Stream, increases Duke Realty’s Chicago industrial portfolio to more than 7.5 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 Steve Schnur, Senior Vice President, Chicago operations. “The two Chicago properties meet all of our requirements for location and building features, making them excellent additions to our local portfolio.”
The Elk Grove facility is located at 1717 Busse Road in the O’Hare submarket and is leased by CEVA Freight, a global logistics company for air freight shipping. Delivered in 2004, this modern, cross-docked facility features a 25,200-square foot office, 64 dock doors, two drive-in doors, 32′ clear height, and 50′ x 50′ bay spacing.
Located at 250 Kehoe Boulevard, the Carol Stream facility is leased by Ta Chen International and is used for the storage and distribution of their fastener products. This three-year-old, cross-dock facility provides immediate access to major highways, including I-355, I-290 and I-88, and features 30′ clear height, 18 dock doors, two drive-in doors and 50′ x 50′ bay spacing.
Mike Caprile, Ted Staszak and Stephanie Park with CB Richard Ellis represented the seller in the transaction.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages, or has under development more than 11 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 at 9377 West Higgins Road, Suite 600 in Rosemont.
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.