Duke Realty Signs Major Lease Renewals

(Raleigh, N.C. – August 25, 2011) Duke Realty’s Raleigh office has recently signed two major lease renewals, continuing commitments for more than 70,000 square feet of space divided almost equally between two longstanding tenants.

BE&K Engineering of North Carolina, a KBR company and a Duke Realty tenant since January 2002, has renewed 35,261 square feet in a single-story office building at 2450 Perimeter Park Drive in Morrisville. Hooker Manning represented Duke Realty in the transaction and Michelle Lopez of Jones Lang LaSalle represented KBR.

KBR is a global engineering and construction company headquartered in Houston, Tex., with offices around the world.  The company’s local Triangle office is located in Perimeter Park, a 2.5 million-square foot, master-planned office and industrial development.

At Walnut Creek Business Park in Raleigh, Duke Realty tenant Axon, a division of Pro Mach, Inc., has renewed its lease for 35,200 square feet at 3080 Business Park Drive, a single-story industrial building. Bob Van Wormer with Cassidy Turley was the broker representing Axon. Hooker Manning represented Duke Realty and Jackson Rives with Cassidy Turley represented the listing for Duke Realty.

Axon is a leading designer and manufacturer of heat shrinkable sleeve labeling systems, as well as other integrated packaging products and solutions, for both Fortune 500 companies and smaller, privately held businesses that specialize in the production of food, beverage, health and beauty aids, household goods and pharmaceuticals.

Walnut Creek Business Park is a 92-acre, master-planned industrial development that accommodates office, distribution and light manufacturing uses.

Jeff Sheehan, Duke Realty’s senior vice president in the Raleigh office, said, “I believe lease renewals are the best expression of mutual satisfaction for tenants and property owners. I am excited that both of these large tenants are going forward with Duke Realty.”

About Duke Realty

Duke Realty entered the Triangle market in 1999 and has developed many noteworthy properties including Perimeter Park and CAPTRUST Tower. Today, Duke Realty owns and manages more than 5.46 million square feet of industrial, office and medical office properties in the Triangle. On a nationwide basis, Duke Realty owns and operates approximately 141 million rentable square feet of industrial and office assets, including medical office, in 18 major U.S. cities. 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.