Duke Realty Corp.’s Chicago office is expanding its industrial building at 1800 Averill Road in Geneva by 163,214 square feet to accommodate the needs of Peacock Engineering Company LLC. The product packaging company will continue to lease the existing 243,000-square-foot building, as well as the new expansion space.
Peacock Engineering also leases 720 Center Ave., a 360,684-square-foot Duke Realty building in Carol Stream. As part of the transaction, Peacock Engineering will enter into long-term lease agreements for the 766,898 square feet that it will occupy in the two buildings.
Both 1800 Averill Road and 720 Center Ave. became Duke Realty-owned and managed properties as part of two industrial portfolio acquisitions the company made in the fourth quarter of 2011. Both buildings were already 100 percent leased by Peacock Engineering. To accommodate Peacock’s need for additional space, Duke Realty is purchasing a 6.50-acre parcel adjacent to 1800 Averill Road and will construct a 163,214-square-foot, precast concrete warehouse/distribution facility with 28-foot clear height, 22 dock doors, one drive-in door and 42-foot by 48-foot bay spacing.
Brian Kling with Colliers International represented Peacock Engineering in its lease transactions. Susan Bergdoll, vice president of leasing, represented Duke Realty.
