DALLAS — April 12, 2022 —The Texas 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 the executions of a lease renewal with Samsung for 815,850 square feet at Point West 400 in the Dallas market and a lease expansion with Starplast USA at Point North 8221, a 337,700-square-foot facility in the Houston market. As a result of this lease activity, Duke Realty’s Texas portfolio of more than 23 million square feet of space is 100 percent leased.
“Continued record setting demand for industrial space continues to drive our market activity in Dallas and Houston,” said Jeff Thornton, Duke Realty’s regional senior vice president and Texas market leader. “While we are at full occupancy, we anticipated the sustained need for modern industrial space and continue to invest in Texas. We currently have a 24-acre site in Wilmer available for a build-to-suit facility of more than 450,000 square feet within the Sunridge Business Park, conveniently positioned to provide immediate access to Union Pacific’s Dallas Intermodal Terminal and Interstates 45 and 20.”
Samsung renewed its lease at 400 Dividend in Coppell, Texas for 815,850 square feet of space within the 2.1 million square foot Point West Industrial Park where Samsung occupies two buildings owned by Duke Realty. Starplast USA continues to experience growth and expanded its lease at 8221 Volta Drive in Houston from 168,850 square feet to 337,700 square feet, the entire building. The company now leases a total of 520,240 square feet of space in two buildings owned by Duke Realty in the Point North Industrial Park. The aforementioned 24-acre site at 1100 East Pleasant Run Road in Wilmer, Texas is available for a build-to-suit development.
Duke Realty’s Matt Hyman, vice president of leasing and development, worked with Mark Becker and Jay Benner at Cushman & Wakefield on the Samsung renewal and Bryan Parker, vice president of leasing, worked with Ryan Fuselier at JLL and Patrick Rollins and Ed Frantz at CBRE to secure the Starplast USA expansion.