(Dallas, TX – July 14, 2020) The Dallas office of Duke Realty (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 185,344-square-foot lease at Lakeside Ranch 1001 with Communication Test Design, Inc. (CTDI), a global, full-service engineering, repair and logistics company in the communications industry. The 634,564-square-foot building, which is located at 1001 Lakeside Parkway in Flower Mound, is now 100% leased with the balance of the space occupied by PPG Architectural Finishes.
“We are pleased that CTDI has chosen Lakeside Ranch 1001 to grow its footprint in Lakeside Ranch Business Park,” said Jeff Thornton, Duke Realty’s Regional SVP. “This new in-fill bulk warehouse project provides state-of-the-art features designed for handling, storage and distribution efficiencies plus has direct access to Dallas-Fort Worth International Airport via SH 121 and convenient connections to I-635 and I-35. In addition, it provides last-mile connectivity to the residential growth northwest of Dallas.”
In addition to its lease with CTDI, the Dallas office has signed renewals with several existing tenants. “Our team continued to work diligently through the shelter-in-place order to ensure that our DFW-area tenants have the space they need to continue their operations,” added Thornton. “Even with the challenging business environment resulting from the pandemic, we have successfully negotiated leases with five of our valued tenants.”
These leases include:
• 80,440 square feet with Duro-Last at Trinity Mills 2940, 2940 Eisenhower Street in Carrollton;
• 143,000 square feet with Norwex at Freeport XIV, 800 W. Bethel Road in Coppell;
• 159,000 square feet with Essilor at Waters Ridge 501, 501 E Corporate Drive in Lewisville;
• 525,641 square feet with HD Supply at Lakeside Ranch 550, 550 Lakeside Parkway in Flower Mound; and
• 626,100 square feet with AS American at 801 East Wintergreen Road in Hutchins.
Duke Realty appreciates the efforts of the following brokers in completing these transactions:
• CTDI: Ken Wesson with Lee & Associates, John Morrissey with Jackson Cross, and Craig Jones, Tom McCarthy and Fred Ragsdale with JLL, the listing agent for the property
• Duro-Last: Trace Elrod and Chris Mathis with Newmark Knight Frank
• Norwex: Brad Struck and Sharon Morrison with ESRP
• Essilor: Jean Russo with Cushman & Wakefield
• HD Supply: Allen Gump and Douglas Biggs with Colliers International
• American Standard: Melissa Holland, Chris Stout, TJ Hochanadel and Dan Santagata with JLL
Matt Hyman handled the negotiations of these leases on behalf of Duke Realty.
Parties interested in information on Duke Realty’s available properties or build-to-suit opportunities in the Dallas-Ft. Worth area are invited to contact Bryan Parker at 972.361.6747 or Matt Hyman at 972.361.6767.
About Duke Realty
In the Dallas-Ft. Worth metro area, Duke Realty owns and manages 16.8 million square feet of industrial properties. Duke Realty operates its Dallas portfolio out of its office located at 14241 Dallas Parkway, Suite 1000, Dallas, TX 75254. The office phone number is 972.361.6700.
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.