Acquisition of Class A distribution facility at Westport Business Park brings Duke Realty’s industrial holdings to more than 7 million square feet in key port market
(Savannah, GA – May 23, 2011) Duke Realty Corporation (Duke Realty) has purchased a 329,396-square foot distribution building at Westport Business Park in Savannah from Stratford Land, a Dallas-based investment management company.
Westport Building B is a Class A, cross-dock distribution facility completed in 2008. Located at 2509 Dean Forest Road, the distribution center is northwest of downtown Savannah off GA 21, providing access to Interstate 95 and 1.6 miles from the Port of Savannah Garden City Terminal, where import and export volumes increased by 19 percent in 2010.
“Duke Realty is pleased to acquire this distribution facility in the strategic port market of Savannah,” said Chris Brown, senior vice president in Duke Realty’s Atlanta office. “Westport Building B is really a Main & Main location for distributors with its proximity to the Garden City Terminal.”
With the acquisition, Duke Realty has increased its industrial property holdings in Savannah to 7,113,946 square feet.
“This purchase is part of Duke Realty’s goal of expanding our holdings of Class A distribution space in important markets to meet the distribution needs of our clients,” Brown said.
Steve Grable, a vice president at Jones Lang LaSalle, represented Stratford Land in the building sale. Westport Building B has 172,498 square feet of space available for lease.
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.