(Philadelphia, Penn. and Indianapolis, Ind. – Aug. 12, 2015) Duke Realty Corporation (Duke Realty), a leading nationwide REIT that owns and operates more than 9 million square feet of industrial properties in the northeast United States, announces that it has opened a regional office in Conshohocken, Penn. The office, which is located in Eight Tower Bridge, 161 Washington Street, Suite 1020, is led by Jeff Palmquist, Senior Vice President, Northeast Region, a long-tenured Duke Realty associate with experience in leasing, acquisitions, joint ventures and consulting.
Mr. Palmquist will be responsible for the company’s growing portfolio of industrial properties in the Northeast, which includes properties in the Lehigh Valley, Central Pennsylvania and along the I-81 corridor; Northern and Southern New Jersey; Baltimore, Maryland; Northern Virginia; and Delaware. In addition to overseeing the leasing and management of Duke Realty’s existing properties, he also will work to identify development and acquisition opportunities, new land positions and prospects for build-to-suit development.
“Our portfolio has grown exponentially in this region of the country in the past three years, and we anticipate that this area will be an ongoing growth market for us in the future,” said Mr. Palmquist. “We have acquired quality properties throughout the region and have demonstrated our construction capabilities with the development of two buildings in New Jersey, a 1.1 million-square-foot distribution facility in Delaware and our in-progress 1.1 million-square-foot distribution facility at 33 Logistics Park Building One at Chrin Commerce Centre located on the east side of the Lehigh Valley. With the opening of this office, we will have local people on the ground ready to build stronger relationships with brokers, as well as existing and potential tenants. We are excited to be here and anxious to further expand Duke Realty’s presence in this part of the country.”
Duke Realty’s entry into the Northeast began in 2006 when it acquired a 183-acre site in Baltimore, Maryland, on which a shuttered General Motors plant stood. Since acquiring the site, Duke Realty has developed more than 1.8 million square feet of Class A distribution facilities. In 2012, the company constructed a 1.0 million-square-foot, build-to-suit distribution center in Delaware for a leading e-commerce company. In 2013, the company expanded its portfolio with the acquisition of six buildings totaling 3.7 million square feet in Pennsylvania and New Jersey. In 2014, Duke Realty began development on another General Motors site in Linden, NJ, delivering two buildings totaling 638,396 square feet. Most recently, the company announced the development of a 1.1 million-square-foot building on a 63-acre parcel on the east side of the Lehigh Valley.
A 20-year associate of Duke Realty, Mr. Palmquist previously was Senior Vice President of Duke Realty’s Nashville operations for ten years. He joined Duke Realty in 1995 as Vice President of Leasing after 12 years in sales and marketing for other companies.
Other members of Duke Realty’s Northeast team include Matthew Bremner, Vice President of Leasing for the Northeast. A Duke Realty associate for over ten years, Mr. Bremner has already represented the company on several large transactions throughout the Northeast Region. He previously was a Senior Leasing Representative in Duke Realty’s Washington, DC office. Construction team members include David Jennings, Project Manager; Mike Davis, Development Services Manager, and Brian Nussbaum, Preconstruction Manager.
The full address of Duke Realty’s new office is Eight Tower Bridge, 161 Washington Street, Suite 1020, Conshohocken, Penn., 19428.The phone number is 484.533.6500
About Duke Realty
Duke Realty owns, maintains an interest in or has under development approximately 142 million rentable square feet of industrial and office assets, including medical office, in 22 major U.S. metropolitan areas. 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. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.