The Chicago office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, secured two lease agreements that have helped the company achieve 100 percent occupancy of its 17.4 million-square-foot in-service Chicago portfolio. Additionally, the company has four development projects* under construction in the market totaling 2.5 million square feet of additional space.
“Demand for logistics space is high across the country, but it is our strategically-located, state-of-the-art facilities and our reputation as a tenant-focused landlord that helped Duke Realty achieve this incredible milestone in the Chicagoland area,” said Josh Bauer, Duke Realty vice president of leasing and development in Chicago. “We continue to look for opportunities to expand our portfolio in the market — developing new facilities and securing leases even before our projects are completed.”
Duke Realty secured a lease deal with Goodwill Industries for 198,696 square feet of space at 1341 Enterprise Drive in Romeoville, Illinois with a commitment to expand into the entire facility totaling 324,115 square feet by 2023. Kris Bjorson, Dan McGillicuddy, Bill Spaulding and Sam Brashler at JLL served as the tenant representatives and Traci Buckingham and Stephanie Park at CBRE represented Duke Realty in lease negotiations.
Duke Realty also inked a deal with Southwire Company, one of North America’s largest wire and cable producers, for 83,125 square feet of space at 430 Kimberly Drive in Carol Steam, Illinois. Adam Marshall at Newmark served as the tenant representative and Doug Pilcher at Cushman & Wakefield represented Duke Realty in lease negotiations.
Duke Realty has the following developments totaling more than 2.5 million square feet currently under construction:
- 1,200,420-square-foot e-commerce fulfillment center for Wayfair LLC at Airport Logistics Center Phase II in Romeoville, Illinois
- 622,200-square-foot build-to-suit facility in Bedford, Illinois for a national home improvement retailer
- 370,973-square-foot speculative development in Woodridge, Illinois
- 299,520-square-foot facility in Bellwood, Illinois preleased to a snack food manufacturer
*previously announced projects