Duke Realty Leases 66% of Newly Acquired 288,000 SF Industrial Building
Industrial REIT purchases 335 W. Crossroads in I-55 submarket and leases 190,080 SF to RTC
Chicago, IL – February 5, 2013 – (RealEstateRama) — Duke Realty Corporation (Duke Realty), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of bulk industrial facilities, announced today that it has acquired 335 W. Crossroads, a 288,000-square-foot industrial building, and has leased 190,080 square feet in the building to RTC Industries.
The Class A industrial property, which is located in Crossroads Business Park where Duke Realty already owns 3.3 million square feet of industrial space in 10 fully leased buildings, increases Duke Realty’s industrial holdings in the I-55 corridor, Chicago’s second largest industrial market, and boasts its overall Chicago-area portfolio to more than 10.6 million square feet. The acquisition also enables Duke Realty to meet the expanded space needs of RTC, a designer of retail marketing displays that also leases its 503,200-square-foot Crossroads V building.
“RTC has been an excellent tenant with solid growth since becoming a Duke Realty tenant,” said Steve Schnur, Senior Vice President of Duke Realty’s Chicago operations. “The acquisition of 335 W. Crossroads allows us to provide RTC with the additional space it needs and complements our strategy of increasing our investment in quality industrial buildings in strong distribution markets.”
335 W. Crossroads is a Class A modern bulk distribution facility with 30? clear height and 40? x 48? bays. The building also features 31 exterior docks and three drive-in doors, along with a 140? truck court and parking for 150 cars.
Jeff Kapcheck with Colliers International represented the seller of 335 W. Crossroads Parkway. Bill Frain, Todd Lippmann and Jim Whalen with CBRE represented RTC Industries in their lease.
Following RTC’s lease, 97,920 square feet of space remain available for lease in 335 W. Crossroads. Interested parties should contact Duke Realty’s Chicago office at 847.232.5400.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development approximately 11.9 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 and operates approximately 145 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.
