DALLAS – March 3, 2021 – The Dallas office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces it has secured a long-term lease with a global provider of wireless services and device management solutions. Lakeside Ranch 350 is a 274,994-square-foot speculative facility within the master-planned Lakeside Ranch Business Park in Flower Mound, Texas. The company has leased the entire facility and it will serve as its primary North American distribution space.
“Duke Realty, a leader in modern industrial and logistics real estate, has highly desirable infill facilities ideal for companies looking to expand distribution networks,” said Jeff Thornton, senior vice president of the Texas region at Duke Realty. “With nearly 50 properties and more than 17 million square feet of state-of-the-art space in a market with a rapidly growing population base and robust talent pool, we are proud to work with companies that are looking for space to add jobs, create opportunities and contribute to a healthy Texas economy.”
Lakeside Ranch 350 at 350 Lakeside Parkway sits within the Class A+ Lakeside Ranch Business Park on 18.2 acres with proximity to Dallas/Fort Worth International Airport and major thoroughfares such as State Highways 121 and 114 and Interstate 635. The facility boasts 61 dock positions, parking for 299 cars with room for growth.
“Our relationships with brokers are critical to ensuring we can meet tenant requirements for modern, convenient space,” said Matt Hyman, Duke Realty vice president of leasing in Dallas. “By working diligently with our broker partners and the new tenant, we were able to promptly meet lease timelines and remain flexible to accommodate the changing client business needs and close the deal.”
Hyman worked with Mark Miller, Rick Medinis and Randy Wood with NAI Robert Lynn to represent Duke Realty and Mitchell Wolf with Newmark Real Estate of Dallas represented the tenant in the negotiations.
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