Riding high on the industrial portfolio strengthening
Duke Realty Corporation
) disclosed a new industrial development on an 18.1 acre site at
1341 Enterprise Drive in I-55 submarket in Romeoville. The
construction is expected to start this month and delivery is slated
in Feb 2015.
The new to-be-developed building, spanning 324,115 square foot,
will be located to the south of an entrance ramp to I-55, which is
the key transportation corridor between Chicago and St. Louis.
Notably, this speculative development will be on the east side of
I-55 near Crossroads Business Park and Park 55, in which the
company has 11 industrial buildings.
Strong demand of the I-55 submarket among the companies opting
for first-class warehouse and distribution space in the region,
called for this new industrial development by Duke Realty.
Moreover, the strategic location and connectivity to important
transportation networks makes it a much sought-after property in
the prime distribution hub of the region. In fact, Duke Realty
currently has around 13.3 million square feet of office, industrial
and healthcare properties in the greater Chicago area.
Of late, Duke Realty seems to be capitalizing on improving U.S.
industrial market fundamentals. Accordingly, most recently, the
company in a joint venture with Browning Investments disclosed the
development of a new industrial building in AllPoints Midwest,
which will be called AllPoints Midwest Building 6, in the
Indianapolis region (Read:
Duke Realty, Browning to Build AllPoints Midwest
). Such efforts are poised to boost the internal growth metrics of
this real estate investment trust (REIT) in the near future.
Duke Realty currently carries a Zacks Rank #3 (Hold). Investors
interested in the REIT industry may also consider stocks like W. P.
Carey Inc. (
), Ashford Hospitality Trust, Inc. (
) and Government Properties Income Trust (
). All three stocks carry a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
DUKE REALTY CP (DRE): Free Stock Analysis
ASHFORD HOSPTLY (AHT): Free Stock Analysis
WP CAREY INC (WPC): Free Stock Analysis Report
GOVT PPTYS INCM (GOV): Free Stock Analysis
To read this article on Zacks.com click here.