Duke Realty Signs Lease for 25,500 SF in Greenfield North 900

Transaction with Industrial Microwave Systems brings logistics building to 100% occupancy.

(Raleigh, NC – July 29, 2020) The Raleigh/Washington, DC 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 that it has signed a lease with Industrial Microwave Systems in Greenfield North 900. The designer of microwave systems for continuous flow manufacturing processes will occupy 25,500 square feet in a 128,035-square-foot logistics building which is part of Greenfield North Business Park, Duke Realty’s eight-building logistics real estate development in Garner.

“We are very pleased to welcome Industrial Microwave Systems to Greenfield North 900, one of our high-quality industrial properties in Greenfield North Business Park,” said Battista Orcino, Vice President of Leasing and Development for Duke Realty in Raleigh. “With their lease, we were able to immediately fill one of our two vacancies with a high-quality tenant and bring that building back to 100 percent occupancy.”

Following the transaction with Industrial Microwave Systems, Duke Realty only has availability in two buildings in Greenfield North Business Park — Greenfield North 1201, a 165,921-square-foot facility which was delivered just last month, and 10,000 square feet in Greenfield North 800. A 10.87-acre parcel, which will support one building totaling approximately 136,400 square feet, remains available for development.

Greenfield North Business Park is located at the interchange of I-40 and U.S. 70 and the proposed extension of I-540. The park, which is the only rail-served industrial park in the Raleigh area, is within minutes of downtown Raleigh, Raleigh-Durham International Airport, the Research Triangle and the I-440 Beltline. Leading companies in the park include Atlantic Tire Distributors, Crown Equipment Corporation, Mattress Firm, the North Carolina Department of Transportation, Mohawk, Butterball and Golden State Foods.

Andrew Young and Hunter Willard with Cushman & Wakefield represented Industrial Microwave Systems in its lease. Larry Lakins with Cushman & Wakefield served as the listing agent for the property.
Parties interested in leasing space or build-to-suit opportunities in the Raleigh area are invited to contact Mr. Lakins by phone at 919.791.2114 or 919.815.5327 or by email at larry.lakins@cushwake.com.

About Duke Realty
In the Raleigh metro area, Duke Realty owns and manages 3.1 million square feet of industrial properties. Duke Realty operates its Raleigh portfolio out of its office located at 2900 S. Quincy Street, Suite 310, Arlington, VA 22206.

On a nationwide basis, Duke Realty Corporation owns and operates approximately 156 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.