(Chicago, Ill. – July 7, 2014) The Chicago office of Duke Realty Corporation (Duke Realty) announces that it has signed new leases totaling 270,131 square feet in two of its industrial properties in the I-55 submarket. With these new leases, occupancy in Duke Realty’s overall Chicago industrial portfolio increased to 96 percent.
At Park 55, North Bay Distribution, Inc., a company that also leases space in a Duke Realty Atlanta property, signed a lease for 198,731 square feet in the 529,000-square-foot building. This industrial property, with 32′ clear height, 68 dock doors and 58 trailer parking spaces, is located at 875 W. Crossroads Parkway in Romeoville, right off I-55 and only 3.5 miles away from I-355. Jim Estus with Colliers International represented North Bay. Trevor Ragsdale, Kelly Gray and Michael Connor with JLL were the listing agents and they, along with Susan Bergdoll, Vice President of Leasing for Duke Realty, represented building ownership.
At 375 W. South Frontage Road in Bolingbrook, ALG Direct, Inc. has signed a lease for 71,400 square feet in the 187,000-square-foot industrial building. Excellent exposure to I-55 traffic allows great signage opportunities which contribute to this property’s 100 percent occupancy. John Suerth from CBRE represented ALG Direct in the transaction. Duke Realty was represented by listing agent Larry Johnson of CBRE and Susan Bergdoll with Duke Realty.
“Our industrial properties in the I-55 submarket continue to be attractive to warehouse and distribution companies because of their superior highway access and proximity to the rest of the Chicago metro area and beyond,” said Steve Schnur, Senior Vice President of Duke Realty’s Midwest Operations. “We are pleased to welcome North Bay Distribution and ALG Direct as Duke Realty tenants and to the benefits that Park 55 and Crossroads offer logistics customers.”
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development approximately 11.7 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 9377 West Higgins Road, Suite 600 in Rosemont.
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 154.1 million rentable square feet of industrial 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 is available at www.dukerealty.com.