(Indianapolis, Ind. – Jan. 19, 2016) The Indianapolis office of Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) that specializes in the ownership, management and development of quality industrial facilities, announces that long-term tenant Hachette Book Group (Hachette) is expanding its leased space in Lebanon Business Park (LBP), a 1,250-acre industrial park located directly off I-65 in the northwest Indianapolis submarket. Hachette, a premier book publisher and distributor, will soon occupy Lebanon Building 4, a 418,400-square-foot building located at 185 S. Mt. Zion Road. In 1996, Hachette was one of the first companies to lease space from Duke Realty in the Lebanon Business Park. Hachette’s initial building was 500,000 SF and has been expanded twice. In 1999, Hachette leased a second building. With this most recent lease, Hachette’s cumulative leased space rises to 1,841,757 square feet in three adjacent buildings in the park.
“We are extremely pleased that Hachette has once again decided to expand its presence in Lebanon Business Park,” said Charlie Podell, Senior Vice President of the Indiana and Ohio Region for Duke Realty. “When Hachette first visited Lebanon Business Park 20 years ago and opted to locate here, they liked the fact that LBP provided opportunities for expansion, as well as its location and accessibility. This marks the fifth expansion by Hachette, the largest tenant in the park.”
“Duke Realty has been an excellent company to work with over the years so it only made sense to turn to them again when we needed additional space,” said Stephen Mubarek, SVP and Chief Financial Officer for Hachette. “They have been straightforward from the beginning, backing up what they say they’ll do and answering every question honestly. Over the years, they’ve expanded our first building twice, leased us another building and provided short-term solutions when we needed additional space. Our lease of Lebanon Building 4 is a continuation of our long-standing and strong relationship.”
“I am excited that Hachette Book Group is expanding in the City of Lebanon yet again,” said Matt Gentry, Mayor of Lebanon. “Hachette’s growing presence in Lebanon speaks volumes of our business-friendly environment, and we look forward to the new opportunities this expansion will bring to our residents and community.”
Lebanon Business Park is a rail-served industrial development that Duke Realty began developing in 1994 on land fronting I-65 with access from two interstate exits. Over the years, the park has grown to 1,250 acres and includes 17 Duke Realty-delivered buildings with approximately 7.5 million square feet of industrial, manufacturing and distribution space. In 2010, Duke Realty added a 13,000-linear-foot rail spur that connects to a CSX branch line on the south side of the park to make Lebanon Business Park the only fully functional rail industrial park in central Indiana. Development opportunities remain in Lebanon Business Park with Duke Realty owning or controlling 303 acres that can support up to 5.2 million square feet of space.
About Duke Realty
Duke Realty Corporation specializes in the ownership, management and development of bulk distribution and medical office real estate. The company owns, maintains an interest in or has under development 141.1 million rentable square feet in 22 major U.S. metropolitan areas. Duke Realty 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.