344,476 square feet in new construction, as well as infrastructure improvements, planned in Legacy, Duke Realty’s development park in Duluth
(Atlanta, Ga. – Sept. 19, 2011) Duke Realty Corporation’s (Duke Realty) Atlanta office announced today that it has executed a long-term lease agreement with Primerica, a leading distributor of financial products to middle-income families in North America. Duke Realty will develop a 344,476-square foot, built-to-suit office facility which will serve as Primerica’s new international headquarters. The new Class A office building will be located in Legacy, a Duke Realty development park just off I-85 in Duluth in Gwinnett County, Ga. In addition to constructing Primerica’s headquarters building, Duke Realty is installing significant additional infrastructure improvements to enhance accessibility. The main entrance to Primerica’s building off of Highway 120 will be renamed “Primerica Parkway.”
Primerica’s new headquarters will be comprised of two buildings, each of which will be three stories high. These buildings will be connected by a central structure that will house Primerica’s TV studio and corporate assembly area. The layout allows Primerica to work efficiently under one roof. The core and shell are designed and will be constructed to receive Leadership in Energy and Environmental Design® (LEED) certification, a designation given to projects into which sustainable processes and materials have been incorporated. Duke Realty already has begun pre-construction activities at the site to accommodate a planned delivery date of spring 2013. When its new headquarters is complete, Primerica will consolidate its numerous business areas and functions from 10 different buildings and will be able to house up to 1,800 employees in the new facility.
“We are very pleased that Primerica chose Legacy as the location for its new corporate headquarters. Our financial strength along with the capabilities of our construction team were key factors in their decision,” said Chris Brown, Senior Vice President of Duke Realty’s Atlanta operations. “We are extremely grateful for the combined efforts of Primerica, Gwinnett County, Cushman & Wakefield, Wakefield Beasley and all of our design consultants in bringing this project to fruition. We are excited to begin development in Legacy and look forward to delivering a world-class home for Primerica.”
“Duke Realty’s Legacy development offered us the land we needed for our new headquarters in an excellent location,” said Greg Pitts, Chief Operating Officer of Primerica. “We thank Duke Realty for working closely with us to ensure that our new headquarters will meet all of our goals. Our new building will enable us to operate more efficiently, be extremely accessible, provide flexibility for expansion if needed, and be an excellent reflection of our company. Plus we are able to remain in Gwinnett County, our home for nearly 35 years.”
Travis Jackson & Sam Hollis with Cushman and Wakefield represented Primerica in the transaction, while Brown and Craig Flanagan, Vice President, Office Leasing, represented Duke Realty. Amanda Stratton, also with Cushman & Wakefield will provide project management services for Primerica’s tenant construction Legacy is a master-planned development with that can accommodate nearly 1 million square feet of office space.
Primerica’s headquarters will be the first building in the park, leaving nearly 60 acres of land still available for development.
About Duke Realty
Duke Realty is one of the Atlanta area’s largest commercial real estate companies, with nearly 13 million square feet of industrial, office and medical office space owned or managed. The company also owns and manages more than 7 million square feet of industrial space in Savannah. Duke Realty’s local offices are located at 3039 Premiere Parkway, Suite 100 in Duluth. For information about Duke Realty’s properties in Atlanta and Savannah, please call 770.717.3200 or visit www.dukerealty.com and look for “Spacefinder” on the home page.
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.
Primerica, Inc. (NYSE:PRI), headquartered in Duluth, GA, is a leading distributor of financial products to middle-income families in North America. Primerica representatives assist clients in meeting their needs for term life insurance, mutual funds, loans and other financial products. In addition, Primerica provides an entrepreneurial full or part-time business opportunity for individuals seeking to earn income by distributing its financial products. Primerica insures approximately 4.3 million lives and more than 2 million clients maintain investment accounts with the company.