(Orlando, Fl. – Feb. 8, 2011) Duke Realty Corporation (Duke Realty) signed five leases totaling 247,733 square feet of space in its Parksouth and Park 27 distribution centers, both located in metropolitan Orlando. The leases consisted of new deals, expansions and renewals.
Four of the transactions took place at Parksouth Distribution Center, Duke Realty’s nine-building, 1.1 million-square foot distribution business park located at the intersection of the Beachline Expressway and the Florida Turnpike on Principal Row in South Orlando. In these transactions:
Grendha Shoes Corp., an Orlando-based marketer and distributor of imported molded-plastic shoes, signed a 67,397-square foot lease for space in Parksouth H, a 134,600-square foot, rear-load distribution facility. The lease expands Grendha’s square footage in the building by 19,300 square feet. Matt Sullivan and Wilson McDowell of Colliers International-Central Florida represented Grendha in lease negotiations.
Orlando Grand Prix, an operator of indoor go-kart tracks, signed a new, 60,636-square foot lease in the 204,000-square foot Parksouth F, a front-load facility. Jon Slater of the Tampa office of Studley represented Orlando Grand Prix in the transaction.
1-800-Pack-Rat signed a lease for 38,050 square feet in Parksouth F as well. The portable storage and moving services provider was represented by Matt Sullivan and Wilson McDowell of Colliers International-Central Florida.
Walt Disney Parks and Resorts signed a 50,900-square foot lease in Parksouth A, a 102,000-square foot, rearload distribution building. With this lease, Disney expands its presence by 12,216 square feet. David Murphy of the Orlando office of CB Richard Ellis represented Disney in the transaction.
Meanwhile, at Duke Realty’s three-building, 1.2 million-square foot Park 27 Distribution Center, located on Deen Still Road near Interstate Highway 4 in Davenport, Fl., Sylmar, Calif.-based Inline Distributing Co., signed a 30,750-square foot lease for space in the 397,000-square foot Park 27 II, a cross-dock loading facility. Al Pfund of MidFlorida Real Estate represented Inline in the transaction. This lease increases the occupancy at Park 27 to 100 percent.
Duke Realty’s Senior Leasing Representative Tim Perry represented ownership in each of the transactions.
“These tenants have made decisions to lease distribution space from us, not only because our properties are strategically located and best-in-market, but also because they trust that Duke Realty has the financial stability and flexibility to accommodate their long-term growth,” said Duke Realty Senior Vice President Doug Irmscher.
About Duke Realty
Duke Realty owns and operates more than 139 million rentable square feet of industrial, office, and medical office space 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.