Expansions totaling nearly 86,000 SF raise occupancy in two Duke Realty properties to 100%
(Minneapolis, Minn. – Sept. 19, 2012) Duke Realty Corporation’s (Duke Realty) Minneapolis office announces that three of its longtime tenants have increased their leased space by a total of 85,994 square feet, bringing two of the company’s industrial properties in the market to 100 percent occupancy.
In Medicine Lake Industrial Center, a 210,418-square foot industrial building, Ferguson Enterprises, a plumbing products supplier, renewed its lease and expanded by 49,994 square feet, raising the total space it occupies to 111,612 square feet. Located at 975 Nathan Lane in Plymouth, Medicine Lake Industrial Center is now 100 percent occupied.
In Crosstown Business Center 12, Graybar Electric Company, an electrical products provider, expanded its leased space by 24,000 square feet, bringing the total square footage it now leases to 144,048 square feet.
In the same building, Industrial Netting, a supplier of plastic netting and precision metal mesh, renewed its lease and increased it square footage by 12,000 square feet, raising its leased space to 84,000 square feet.
These leases, in conjunction with a recent new lease with Archway Marketing, bring Crosstown Business Center 12 to 100 percent occupancy. Located just off Highway 610 at Highway 169 and 93rd Avenue in Brooklyn Park, Crosstown 12 is a 324,080-square foot industrial building and part of Duke Realty’s Crosstown North Business Center, a seven-building industrial development.
“I believe that lease renewals and expansions are the best expressions of customer satisfaction,” said Pat Mascia, Senior Vice President of Duke Realty’s Minneapolis operations. “The decision by these three companies to expand in their Duke Realty properties shows that they are pleased with their properties and the service we provide.”
About Duke Realty
In the Twin Cities area, Duke Realty owns and manages more than 4.6 million square feet of industrial, office and retail properties. Duke Realty’s local offices are located at 1600 Utica Avenue South, Suite 250, Minneapolis, MN 55416.
On a nationwide basis, Duke Realty owns and operates approximately 138.9 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.