(Minneapolis-St. Paul, Min. ‒ Dec. xx, 2015) The Minneapolis-St. Paul office of Duke Realty Corporation, a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of quality industrial facilities, announces that it has executed a long-term lease agreement for a 134,384-square-foot, build-to-suit distribution center with Intereum, Inc., a Plymouth-based company that supplies commercial office and healthcare furniture, floor coverings and related products to corporations and government entities. Construction on the warehouse, which is being built on 13.78 acres that Duke Realty owns in Waterford Distribution Center in Plymouth, is slated to begin in June 2016, with Intereum relocating to its new facility in March 2017.
“We began marketing our Waterford Innovation Center parcel as an industrial build-to-suit site, rather than an office site, last year because of its superior highway access,” said Josh Budish, Vice President of Leasing and Development for
Duke Realty in Minneapolis-St. Paul. “Intereum chose this location because both State Highway 55 and U.S. Highway 169 are literally right out the front door, enabling them to better serve their customers. Plus with a build-to-suit facility, Intereum has the ability to specify the features best suited to their operations.”
Intereum’s new facility, which will front 9th Avenue North, will include a 29,500-square-foot office/showroom. The building also will have nine dock doors with expansion capacity for an additional nine doors, one drive-in door, and 50′ x 41′ bay widths. Surrounding the building are 152 automobile parking spaces and a 125′ truck court.
Jon Yanta with Northmarq Real Estate Services represented Intereum in the transaction, while Duke Realty was represented by listing agent Matt Oelschlager with CBRE and Mr. Budish.
Intereum’s new facility is Duke Realty’s fifth build-to-suit industrial project in the Minneapolis-St. Paul market in the last 18 months. Parties interested in build-to-suit or preleasing opportunities with Duke Realty are invited to contact Mr. Budish at firstname.lastname@example.org or 952.543.2926.
About Duke Realty
In Minneapolis-St. Paul area, Duke Realty owns, manages or has under development approximately 4.1 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 1600 Utica Avenue South, Suite 250 in Minneapolis.
On a nationwide basis, Duke Realty Corporation owns, maintains an interest in or has under development 142 million rentable square feet of bulk distribution and office assets, including medical office, in 22 major U.S. metropolitan areas. 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 Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.