(Cincinnati, OH – March 5, 2019) The Cincinnati office of Duke Realty (NYSE: DRE), the leading domestic-focused, logistics property REIT (Real Estate Investment Trust) in the United States, wrapped up the last quarter of 2018 with high leasing activity, the completion of a new speculatively developed warehouse and continued headway on a build-to-suit, omni-channel distribution facility for Design Within Reach.
“The last quarter of 2018 was very productive for our team and reflects our ability to meet the ongoing demand for quality logistics space in the Cincinnati/Northern Kentucky market,” said Dan Colletto, Vice President of Leasing and Development for Duke Realty in Cincinnati. “We completed 837,881 square feet in leases, including new lease transactions and renewals with several existing tenants. The construction side of our business was active as well, with delivery of a ready-for-occupancy, 284,685-square-foot industrial building and steady progress on a build-to-suit facility for one of our long-term customers.”
Leases signed during the fourth quarter and brokers involved in the transactions include:
• World Park Union Centre 9655 – 452,000-square-foot renewal with Totes Isotoner with representation by Mike Lowe with CBRE
• Southpark 1901 – 218,400-square-foot renewal with Pratt Corrugated Holdings with representation by Brian Leonard with JLL
• Skyport 2245 – 118,629-square-foot renewal with Heidelberg Distribution NKY
• World Park 5265 – 25,000-square-foot new lease with Aero Fulfillment Services with representation by John Gartner with Colliers
• Southpark 1961 – 12,800-square-foot renewal with AVI Food Systems
• World Park at Union Centre 9407 – 11,052-square-foot renewal with Comcast Cable
Also during the fourth quarter, the Cincinnati team continued its work on Design Within Reach’s 617,760-square-foot, build-to-suit in South Afton Industrial Park in Williamsburg Township. The building is slated for delivery in the second quarter of 2019.
Fairfield Logistics Center 7940, Duke Realty’s spec industrial building that it delivered during the quarter, is a 284,685-square-foot industrial facility located just north of Cincinnati on Seward Road near its intersection with Tylersville Road. Fairfield Logistics Center 7940 is accessible via multiple routes and is within five miles of both I-75 and I-275.
The building features 32′ clear height, 53 dock doors, two drive-in doors and LED lighting. Outside of the building is a 130’ truck court and 67 trailer and 275 automobile parking spaces, with expansion capabilities of up to an additional 220 parking spots for cars.
Parties interested in leasing space in Fairfield Logistics Center 7940 are invited to contact listing broker John Gartner III with Colliers at 513.562.2207 or Erin Casey at 513.562.2225.
About Duke Realty
In the Cincinnati metro area, Duke Realty owns, manages, or has under development more than 10.6 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 153 million rentable square feet of logistics 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.