Acquisition includes eight Chicago-area bulk warehouses totaling 1,498,449 square feet
(Chicago, Ill. – November 1, 2011) Duke Realty Corporation’s (Duke Realty) Chicago office announces that the company has acquired a nine-building industrial portfolio totaling 1,787,746 square feet, with 84 percent or 1,498,449 square feet in eight buildings in Chicago-area submarkets. The ninth building in the portfolio is located in Corona, Calif. With this acquisition, Duke Realty now owns and operates nearly 9 million square feet of bulk warehouse space in and around Chicago and more than 107,695,971 square feet nationwide.
“This acquisition is another step in Duke Realty’s strategy to increase its investment in industrial assets in key distribution markets,” said Steve Schnur, Senior Vice President of Duke Realty’s Chicago operations. “Chicago continues to be one of the leading industrial markets in the United States, and the properties in this acquisition are all located in core submarkets, making them excellent additions to our local portfolio.”
All of the buildings in the portfolio Duke Realty acquired are 100 percent leased by either a single entity or two tenants.
The purchased properties in Chicago are:
200 Champion Way Northlake, Ill. 238,064 SF
1800 Averill Road Geneva, Ill. 243,000 SF
605 Crossroads Parkway Bolingbrook, Ill. 354,400 SF
370 Crossroads Parkway Bolingbrook, Ill. 258,560 SF
1250 Carolina Drive West Chicago, Ill. 150,000 SF
751 Expressway Drive Itasca, Ill. 63,305 SF
4160 Madison Street Hillside, Ill. 79,532 SF
11440 Addison Street Franklin Park, Ill. 111,588 SF
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 12.5 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