Space in Point West VI will serve as company’s regional distribution hub
(Dallas, Tex. – June 17, 2011) Shaw Industries, a manufacturer and distributer of carpeting and other flooring products and a subsidiary of Berkshire Hathaway, has entered into a long-term lease with Duke Realty for 263,625 square feet in Point West VI, a Duke Realty-owned and managed warehouse/distribution building in Coppell, Tex. Shaw Industries will be consolidating operations from two other Dallas/Fort Worth-area facilities and expanding its total leased space, making this location the company’s second largest regional distribution hub in the country. Shaw Industries is expected to move into Point West VI in July 2011.
“Point West VI is an excellent choice for companies such as Shaw Industries that are looking for accessibility, visibility and functionality,” said Randy Wood, Vice President of Leasing with Duke Realty, who represented ownership in the transaction. “With its location at I-635 and Belt Line Road, Point West VI is extremely easy to reach and is seen by thousands of people who pass by each day. The building also is one of the most modern in the market with features that enhance product movement and storage.”
“After an extensive search, Shaw Industries found that Duke Realty and Point West VI offered them unique advantages that other locations couldn’t,” said Tom Pearson, Executive Vice President with Colliers International. “Duke Realty’s reputation and financial strength, coupled with the building’s features and proximity to the Dallas/Fort Worth International Airport and major highways, were all important factors in Shaw Industries’ decision to make Point West VI their new southwestern distribution hub.”
Located at 400 Dividend Drive, Point West VI is a 1.0 million-square foot building featuring 32′ minimum clear heights and 50′ x 50′ column spacing with 60′ staging bays, as well as a 180′ truck court. Point West is located in a Foreign Trade Zone and offers other financial incentives such as Triple Freeport inventory tax exemption and 75 percent real property tax abatement from the city of Coppell.
With Shaw Industries’ transaction, Point West VI is more than 75 percent occupied, with 263,625 square feet still available for lease.
Pearson, along with Chris Teesdale who also is an Executive Vice President with Colliers International, represented Shaw Industries in the transaction.
About Duke Realty
Duke Realty owns and operates approximately 139 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.
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