(Linden, NJ ‒ Dec. 15, 2015) The Northeast Region office of Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of quality industrial facilities, and its listing broker CBRE announce that both warehouses Duke Realty developed on a speculative basis in its Legacy Commerce Center in Linden, New Jersey, are 100 percent leased within 14 months of delivery. Joseph Cory Holdings LLC (Cory Holdings), a distributor of residential and commercial furniture in the United States and Puerto Rico, has leased 212,684 square feet in the building located at 801 W. Linden Avenue, bringing it to 100 percent occupancy. Duke Realty’s other building in Legacy Commerce Center, 301 Pleasant Street, is also 100 percent leased.
“We are pleased to welcome Cory Holdings to Legacy Commerce Center and complete the lease up of our two recently delivered buildings,” said Jeff Palmquist, Senior Vice President of Duke Realty’s Northeast Region. “Interest in Legacy Commerce Center has been strong since we began development. Cory Holdings’ decision to lease space here affirms the attributes of Legacy Commerce Center—high-quality, modern bulk warehouse space near the country’s most dynamic and densely populated market complemented by its proximity to the ports, highways and air.”
Stephen Elman and Stan Danzig with Cushman & Wakefield represented Cory Holdings in the transaction, while Duke Realty was represented by Matt Bremner, Vice President of Leasing with the company, and its listing broker Mindy Lissner with CBRE.
Duke Realty delivered its warehouse at 801 West Linden Avenue in October 2014 and its warehouse at 301 Pleasant Street in April 2015. The two buildings are Duke Realty’s first developed properties in Legacy Commerce Center, the industrial portion of a 60-acre site on which a General Motors’ assembly plant formerly stood.
One additional industrial building development site remains in Legacy Commerce Center. This block of land can accommodate another 495,000-square-foot building. Interested parties are invited to contact:
About Duke Realty
In addition to its buildings in Legacy Commerce Center, Duke Realty owns and manages more than 1.3 million square feet of industrial properties in New Jersey. The company’s Northeast Region office is located at 161 Washington Street, Suite 1020, Conshohocken, PA 19428. The phone number is 484.533.6500.
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.