MINNEAPOLIS — April 6, 2021 —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 736,525 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. The activity includes a new lease agreement with a manufacturer of COVID-19 RT-PCR testing kits, four lease renewals and national consumer products manufacturer’s lease expansion.
“Our new and renewal lease activity continues to remain strong, which has helped us achieve a 95 percent occupancy rate percent,” said Susan Bergdoll, senior vice president of Duke Realty’s Minneapolis-St. Paul, Chicago and Indianapolis operations. “We started this year with healthy market activity that includes renewal, new and expansion lease agreements — reaffirming our investment in state-of-the-art logistics real estate.”
Sensiva Health LLC, a cutting-edge clinical testing, healthcare solutions company and maker of COVID-19 RT-PCR tests, has entered into a long-term lease for 52,888 square feet of space at 10500 Arbor Lakes within the Arbor Lakes Business Park, a Duke Realty master-planned, four-building, one million-square-foot project. The Arbor Lakes Business Park is now at 100 percent occupancy. Ruan Transportation Management has renewed its lease for 299,904 square feet at Gateway North 6701, as has furniture manufacturer, Blu Dot for 266,264 square feet at Gateway North 6301 at the Gateway North Business Center along the Highway 1010 corridor in Otsego. Woody’s Pet Food Deli has renewed its lease for 13,583 square feet of space at 1245 Trapp Road within the Trapp Road Commerce Center along highways 494 and 35E in Eagan, Minnesota. Holdahl Company, a family-owned business that sells cabinet and furniture making supplies, has renewed its lease for 11,222 square feet of space at 2015 Silver Bell Road in Eagan, Minnesota along Sibley Memorial Highway. A national manufacturer, currently located at Duke Realty’s Gateway South 2101 in Shakopee, Minnesota expanded its footprint by 92,664 square feet within the facility bringing the facility to 100 percent occupancy.
Susan Bergdoll and Casey Grant with Duke Realty worked with Neil Kolatkar, Bryan VanHoof, Jeff Przytarski and Dan Swartz at CBRE Group, Brian Netz at Newmark Knight Frank, Nancy Flicek at Christianson & Company, Brandon Glick with Mohr Partners, Nate Erickson with Transwestern and Kris Smeltzer, Brent Masica and Tony Deldotto 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 component 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.