(Dallas – July 14, 2014) Duke Realty Corporation’s (Duke Realty) Dallas office reports that it has signed leases totaling 1.39 million square feet in Coppell and northwest Dallas since the beginning of 2014, continuing its 15-year success as one of the leading industrial property owners in the D/FW Airport submarket. Transactions include four new leases and eight renewals in existing properties plus a new lease for 127,189 square feet in a new, 270,498-square-foot, speculative industrial development at Point West VIII. These transactions bring occupancy in Duke Realty’s industrial properties in the D/FW Airport submarket to 98.2 percent and occupancy in its entire 15 million-square-foot Dallas industrial portfolio to 97.7 percent.
“Since our first development in the D/FW Airport submarket 14 years ago, we have had ongoing success in growing our portfolio in this submarket,” said Jeff Thornton, Senior Vice President of Duke Realty’s Texas operations. “The quality of our product, coupled with excellent highway accessibility and proximity to the airport, have been attractive to companies looking for distribution centers that enable them to warehouse and transport their products as efficiently as possible. Ongoing interest and our strong performance in this submarket led to our decision to begin development of Point West VIII, which is 47 percent preleased to Insight Merchandising. ”
Insight Merchandising, a designer and manufacturer of quality custom store fixtures, agreed to lease 127,189 square feet of space at Point West VIII prior to groundbreaking. The building will have excellent visibility and access to I-635, SH 121 and Beltline Road, and include 28′ clear height, 44 – 9′ x 10′ dock doors, two 12′ x 14′ drive-in doors and 52′ x 50′ interior and 52′ x 60′ staging bay spacing. Delivery for Point West VIII is slated for early 2015. Louis Pascuzzi and David Creirer with Jackson-Cooksey represented Insight Merchandising in the transaction, while Randy Wood, Vice President of Leasing, represented Duke Realty.
Mr. Wood, along with Matt Hyman, Leasing Representative, represented Duke Realty in all of the following lease transactions.
- In Point West VI, Rent-A-Center signed a new lease for 318,225 square feet. Mark Miller with NAI Robert Lynn represented Rent-A Center.
- Also in Point West VI, EPI signed a new lease for 135,000 square feet. Walter Priddy with WMP Company represented EPI.
- Fresenius signed a lease for 114,150 square feet in Freeport VI. Corbin Crews with CBRE represented Fresenius.
- Samsung, a tenant in another Duke Realty Coppell property, signed a new lease for 65,854 square feet in Freeport XV. Samsung was represented by Pat O’Keefe and David Liggitt with CBRE.
- JP Morgan renewed its 125,103-square-foot lease in Freeport IV. Russell Cosby with JLL represented JP Morgan.
- In One Valwood Park, Womack renewed its 113,000-square-foot lease. Tom McCarthy and Scott Collier with JLL represented Womack.
- National Powersport Auctions (NPA) renewed its lease for 107,500 square feet in Frankford Interchange. Gil Stroube with LPC was the broker for NPA.
- Archway Marketing Services renewed its 105,981-square-foot lease in Freeport IX. Archway was represented by Blake Anderson with Cassidy Turley.
- In Freeport II, SABIC Polymershapes LLC renewed its 57,234-square-foot lease.
- Newgistics renewed its 49,820-square-foot lease in Freeport V. Greg Nelson and Conrad Madson with Lee and Associates were the representatives for Newgistics.
- Rasa Floors renewed its 39,732-square-foot lease in Eisenhower Distribution Center. John Amend with The Amend Group was the broker for Rasa.
- Also in Eisenhower Distribution Center, Pepsico renewed its 23,994-square-foot lease. Pepsico was represented by Tim Vogds with CBRE.
“Our Freeport North, Point West and other properties in the D/FW Airport submarket have consistently been the first choice of many companies because of their unparalleled location and modern, state-of-the-art features,” said Mr. Wood. “These buildings were constructed with the industrial user in mind, and we pride ourselves on maintaining them so they remain in peak condition for our existing and potential customers.”
In addition to its Point West, Freeport North, and other industrial developments in the D/FW Airport submarket mentioned above, Duke Realty also owns Lakeside Ranch Building 20, a 748,831-square foot Class A bulk industrial building and two undeveloped land sites that can accommodate up to one million square feet of new development in Flower Mound.
About Duke Realty
In the Dallas-Fort Worth area, Duke Realty owns, manages, or has under development more than 16.2 million square feet of industrial, office and healthcare properties and has strategic land positions available for 3.5 million square feet of future industrial development and 775,000 square feet of future office development. Duke Realty’s local offices are located at 14241 N. Dallas Parkway, Suite 1000.
Duke Realty owns, maintains an interest in or has under development approximately 154.1 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 is available at www.dukerealty.com. Duke Realty can also be followed on Facebook and Twitter.