Duke Realty Lease Activity Strong in Minneapolis-St. Paul

Midwest Market Achieves More than 405K SF of New Leases and Renewals

(Minneapolis, MN ‒ November 10, 2020) The Minneapolis-St. Paul office of Duke Realty Corporation (NYSE: DRE), the leading domestic-focused industrial property REIT (Real Estate Investment Trust) in the country, announces it has executed lease agreements and renewals totaling 405,903 square feet of industrial real estate space of its more than 5 million-square-foot portfolio in the Twin Cities metropolitan area over the last six months.

“Our new and renewal lease activity continues to remain strong, which has helped us achieve a 98 percent occupancy rate percent,” said Josh Budish, vice president of Duke Realty’s Minneapolis-St. Paul operations. “In the second and third quarters of the year, we entered into renewal, new and expansion lease agreements — reaffirming our investment in state-of-the-art logistics real estate.”

My Pillow, Inc. currently located at Duke Realty’s Gateway South 2101 in Shakopee, Minnesota has renewed its lease with Duke Realty and plans to expand its footprint within the facility. All Integrated Solutions, industrial tool and fastener supplier, has entered into a long-term lease for 52,797 square feet of space at Arbor Lakes Business Park, a Duke Realty master-planned, four-building, one million-square-foot project. HD Supply and Heritage Landscape Supply Group have each entered into lease agreements for industrial space at Duke Realty’s Silver Bell Commons in Eagan, Minnesota with convenient access to Highway 13 and close proximity to the Minneapolis-St. Paul airport. HD Supply will occupy 67,326 square feet and Heritage Landscape Supply Group will occupy 16,030 square feet. TransAmerican Strukturoc, Inc., a wall panel manufacturer, has renewed its lease agreement with Duke Realty at 920 Apollo Road in Eagan, Minnesota for 50,114 square feet of space.

Duke Realty worked with Bryan VanHoof, Jeff Przytarski and Dan Swartz at CBRE Group, Steve Nilsson and Joe Owen at Colliers International, Jeff Minea at Lee & Associates, Brian Netz at Newmark Knight Frank, and Kris Smeltzer at Cushman & Wakefield to secure these lease agreements.

 

About Duke Realty

On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 159 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.