Duke Realty Corporation’s Chicago office has announced that the company recently acquired a nine-building industrial portfolio totaling 1,787,746 square feet, with 84 percent or 1,498,449 square feet in eight buildings in Chicago-area submarkets.
The ninth building in the portfolio is located in Corona, Calif. With this acquisition, Duke Realty now owns and operates nearly 9 million square feet of bulk warehouse space in and around Chicago and more than 107,695,971 square feet nationwide.
“This acquisition is another step in Duke Realty’s strategy to increase its investment in industrial assets in key distribution markets,” said Steve Schnur, senior vice president of Duke Realty’s Chicago operations in a release. “Chicago continues to be one of the leading industrial markets in the United States, and the properties in this acquisition are all located in core submarkets, making them excellent additions to our local portfolio.”
All of the buildings in the portfolio Duke Realty acquired are 100 percent leased by either a single entity or two tenants. The purchased properties in Chicago are:
- 200 Champion Way Northlake, Ill. 238,064 SF
- 1800 Averill Road Geneva, Ill. 243,000 SF
- 605 Crossroads Parkway Bolingbrook, Ill. 354,400 SF
- 370 Crossroads Parkway Bolingbrook, Ill. 258,560 SF
- 1250 Carolina Drive West Chicago, Ill. 150,000 SF
- 751 Expressway Drive Itasca, Ill. 63,305 SF
- 4160 Madison Street Hillside, Ill. 79,532 SF
- 11440 Addison Street Franklin Park, Ill. 111,588 SF
Mike Caprile, Ted Staszak and Stephanie Park with CB Richard Ellis represented the seller in the transaction.
Duke has been an active buyer recently. In September, the firm acquired three industrial buildings—two in the Chicago area and one in Fort Worth, Texas—totaling 693,938 square feet. All three properties were 100 percent leased.
