(Orlando, Fla. – Feb. 11, 2013) The Central Florida office of Duke Realty Corporation (Duke Realty) announces that it has closed five leases totaling 435,728 square feet at industrial properties in the Orlando area, including a long-term renewal of 275,000 square feet with Ford Motor Company at Park 27 Distribution Center in Davenport, Fla., southwest of Orlando.
In addition, at Parksouth Distribution Center, the firm has closed new leases of 37,683 square feet with Alstyle Apparel and 19,300 square feet with FM Convention Contractors Inc., and renewals of 78,295 square feet with Benjamin Moore and 25,450 square feet with Universal Studios.
Duke Realty’s Tim Perry, Vice President of Leasing in Central Florida, represented ownership in the five transactions.
“We’re honored that Ford Motor Company has chosen to maintain its distribution operations for the entire state of Florida at Park 27,” said Doug Irmscher, Senior Vice President, Central Florida Operations in Duke Realty’s Orlando office. “Ford has been a valued client at Park 27 since 2003, the year Duke Realty completed the company’s current build-to-suit space. We’re pleased to be able to accommodate the company’s continued success with this flexible, high-quality space.”
Brian Rettig, First Vice President in CBRE’s Tampa office, represented Ford in the transaction. Located at the intersection of Interstate 4 and U.S. Highway 27 in Polk County, Park 27 is a cross-dock distribution facility expandable by 150,000 square feet.
At Parksouth Distribution Center, Duke Realty’s two new leases and two renewals bring the 10-building, 1.1-million-square-foot industrial park to 96 percent occupancy.
“Parksouth Distribution Center continues to retain and attract high-quality tenants seeking strategically located, state-of-the-art distribution space.” Irmscher said. “We’re pleased to accommodate the ongoing growth of Alstyle Apparel and FM Convention Contractors with new leases at Parksouth, and to retain our long-term tenants, Benjamin Moore and Universal Studios.”
Alstyle Apparel, a supplier of men’s and women’s activewear, has signed a 37,683-square-foot lease at Parksouth F, a 203,900-square-foot, front-load industrial facility. The company will relocate to the space from the Atlanta market. David Murphy, Senior Vice President at CBRE, represented Alstyle Apparel in the transaction.
“Alstyle carefully searched the Orlando market and evaluated 10 or 11 buildings before selecting Parksouth F, which provides the company high clear heights of 30 feet and an excellent location at the intersection of State Route 528 and Florida’s Turnpike,” Irmscher said.
At Parkshouth H, a 134,600-square-foot industrial facility, FM Convention Contractors has signed a lease for 19,300 square feet. The company, which is relocating from within the Orlando market, will benefit from newer, upgraded distribution and office space while increasing its footprint by approximately 7,000 square feet. Wilson McDowell, Director of Industrial Services at Colliers International, represented the tenant in the transaction.
Paint and finishes supplier Benjamin Moore has renewed its lease for 78,295 square feet at 9592 Parksouth Court, a Duke Realty-developed build-to-suit facility that the company has occupied since 2003. Deborah Mickler, Director of Industrial Services at Colliers International, represented Benjamin Moore.
At Parksouth A, a 101,800-square-foot, rear-load industrial facility, Universal Studios has renewed its lease for 25,450 square feet. Universal Studios, which has occupied the building since it opened in 1997, represented itself in the lease transaction.
About Duke Realty
In the Central Florida region, Duke Realty owns, manages or has under development approximately 5.3 million square feet of office, industrial and healthcare properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 4700 Millenia Blvd., Suite 370, in Orlando.
On a nationwide basis, Duke Realty owns and operates approximately 145 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.