(Cincinnati, OH ‒ July 30, 2018) The Cincinnati office of Duke Realty Corporation (NYSE: DRE), the leading U.S. domestic-focused industrial property REIT (Real Estate Investment Trust), announces that it has executed a long-term lease agreement for a 617,760-square-foot, build-to-suit, omni-channel distribution facility with Design Within Reach, a furniture and home accessories company specializing in authentic modern designs for today’s consumers. The building, which is being built on 46.83 acres in the South Afton Industrial Park in Williamsburg Township, Ohio, is located just off Half Acre Road at S.R. 32 and within a short drive of four major interstates, including I-75, I-71, I-275 and I-77. Delivery is expected in early 2019.
“Design Within Reach is a valued, long-time tenant of Duke Realty with operations currently in two of our buildings in Northern Kentucky. We are excited to continue our partnership with them by delivering a custom-designed, state-of-the-art facility that will serve as their only omni-channel fulfillment center in the country,” said Dan Colletto, Vice President of Leasing and Development for Duke Realty in Cincinnati. “This new facility will incorporate modern features that are designed to enhance storage, distribution and fulfillment capabilities and provide excellent access to several major highways.”
“With the continued growth of our business, it’s the right time to expand our fulfillment and distribution capabilities to better serve our clients across North America,” said John McPhee, President of Design Within Reach. “We’re thrilled that our new facility will contribute to economic growth in the local area with the creation of many new jobs. In addition, this location will provide better access to I-77 and to the New York City metropolitan area, where we have a large client base and a significant portion of our deliveries take place.”
Design Within Reach’s new cross-dock facility will incorporate 36′ clear height, with the capability to support up to 443 automobile parking spaces and 138 trailer storage stalls. It will be expandable by 112,320 square feet. The building will be the first constructed in South Afton Industrial Park, a 242-acre, shovel-ready campus established by the Clermont County Community Improvement Corporation (CIC). Over the next 10 years, the CIC hopes to create more than 1,800 jobs and $1.5 billion in economic activity in the park.
“We are so pleased that Design Within Reach has decided to locate in Clermont County at South Afton Industrial Park,” said Commissioner Ed Humphrey, President of the Board of County Commissioners. “When we made the decision to purchase the South Afton property and invest in the infrastructure, we knew that over time our commitment would pay off. The park will spur development in the eastern half of Clermont County, as well as generate hundreds of jobs as businesses locate here.”
“The jobs that Design Within Reach will bring to the area is a promising first step in the economic development of Clermont County,” said Commissioner David Painter. “As South Afton becomes established as a favorable business location and additional improvements are made to State Route 32 and its interchanges, this area of the county will really open up to development. We are thrilled that Design Within Reach has chosen South Afton Industrial Park for their operations.”
“Duke Realty is one of the largest developers of industrial real estate in the country and has a substantial portfolio in Ohio and Northern Kentucky. Its decision to invest in a new state-of-the-art distribution facility for Design Within Reach is a great vote of confidence for South Afton Industrial Park and Clermont County,” said Commissioner David Uible. “The sites in South Afton Industrial Park are shovel-ready sites, making it quick and easy for developers such as Duke Realty to deliver new projects.”
“The Williamsburg Township Trustees are excited to have Duke Realty and Design Within Reach as the first project at South Afton,” said Gary Jordan, Chairman of the Williamsburg Township Board of Trustees. “We thank them for investing in Williamsburg Township and wish them the greatest success!
“We also appreciate the Clermont County Commissioners and the Clermont County economic development team for partnering with us to make South Afton Industrial Park a reality, and their leadership in creating the environment for companies to bring new jobs and invest in our community,” Jordan added. “This effort has been a shared vision and a common goal.”
Newmark Knight Frank brokers Si Pitstick and Josh Young from Cincinnati, along with Geoffrey Kasselman from Chicago and James Rittman from Stamford, Connecticut, represented Design Within Reach in the transaction.
About Design Within Reach
Design Within Reach, Inc., founded in 1998 and headquartered in Stamford, Connecticut, is the world leader in authentic modern design. The company sells its furniture and accessories to residential and commercial customers through retail Studios in North America, via the Web at dwr.com, by phone at 1.800.944.2233 and through the DWR Contract Division at dwrcontract.com. Design Within Reach, Inc., is a subsidiary of Herman Miller, Inc.
About Herman Miller, Inc.
Herman Miller is a globally recognized provider of furnishings and related technologies and services. Headquartered in West Michigan, the global company has relied on innovative design for over 100 years to solve problems for people wherever they work, live, learn and heal. Herman Miller’s designs are part of museum collections worldwide, and the company is a past recipient of the Smithsonian Institution’s Cooper Hewitt National Design Award. Known and respected for its leadership in corporate social responsibility, Herman Miller has earned the Human Rights Campaign Foundation’s top rating in its Corporate Equality Index ten years in a row, was named a 2016 Top 100 Healthiest Employer and has earned numerous global sustainability awards. In fiscal 2018, the company generated $2.4 billion in revenue and employed nearly 8,000 people worldwide. NASDAQ: MLHR.
About Duke Realty
In the Cincinnati metro area, Duke Realty owns, manages, or has under development nearly 10 million square feet of industrial properties and has strategic land positions available for future industrial development. Duke Realty’s local offices are located at 5181 Natorp Boulevard, Suite 600 in Cincinnati.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 150 million rentable square feet of industrial assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on 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.