(Chicago, IL – May 1, 2017) The Chicago office of Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of quality industrial facilities, announces that the company has acquired two, newly constructed, state-of-art industrial buildings totaling 502,494 square feet in Lockport. A third building, which is available for lease, is under construction on an adjoining parcel and will be acquired by Duke Realty when complete in July 2017. The three buildings are located along I-355 between I-55 and I-80, providing an ideal location for companies to service the local population base as well as multi-state distribution.
The two state-of-the-art properties that were delivered in 2016 and are 100 percent leased are:
Lockport 16328 16328 S. John Lane Crossing 273,640 SF
Lockport 16410 16410 S. John Lane Crossing 228,690 SF
The third building, a 300,494-square-foot facility, is under construction adjacent to Lockport 16410. When delivered in July 2017, the modern, state-of-the-art building will feature 32′ clear heights, 50′ x 54.5′ column spacing with 70′ at the staging bay, 36 dock doors and two drive-in doors. Outside the building will be 57 trailer and 269 automobile parking spaces.
“This acquisition is another step in Duke Realty’s ongoing strategy to increase its investment in key distribution markets through existing building acquisitions and land development,” said Ryan O’Leary, Senior Vice President of Duke Realty’s operations in Chicago, Minneapolis and St. Louis. “Chicago continues to be a strong industrial market because of the local population and its strong infrastructure which allows companies to serve a major portion of the U.S. population very quickly. These properties are first-class, brand new buildings with superior access to major highways, making them excellent additions to our local portfolio.”
Parties interested in leasing space in the Lockport building that is under construction or in other Duke Realty properties are invited to contact Susan Bergdoll, Vice President of Leasing and Development for Duke Realty, at 847.232.5420.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development nearly 14.5 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 1301 W. 22nd Street, Suite 800, Oak Brook, IL 60523.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 142 million rentable square feet of bulk distribution and medical office real estate 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. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.