Duke Realty Corporation
) inked a built-to-suit deal in Ohio with American Showa - a
subsidiary of Japanese automotive parts manufacturer, SHOWA
Corporation. As per the deal, Duke Realty will construct a 304,560
square foot industrial warehouse for American Showa in Rickenbacker
Global Logistics Park ('RGLP').
RGLP is a master-planned logistics park that is being
constructed by Duke Realty in alliance with Columbus Regional
Airport Authority ('CRAA') and Capitol Square, Ltd. The
above-mentioned industrial warehouse for American Showa will be
placed in the Intermodal North Campus of RGLP and will be close to
the Rickenbacker International Airport and Norfolk Southern
Intermodal Terminal. The construction of this facility is expected
to start this month and deliver in early 2015.
Positioned in Columbus, RGLP is reachable from I-71, I-270,
I-70, Highway 23 and Highway 33 and facilitates efficient product
delivery to all population centers in the Mid-Atlantic, Southwest,
Northeast and Midwest U.S. Notably, the parkways and roadways
within RGLP are preferred as Loaded-to-Capacity zones to enable
movement of overweight vehicles or loads.
As a matter of fact, improving automotive purchases and overall
consumer spending in recent times is driving the healthy recovery
in industrial production. Amid low industrial new construction
activity, Duke Realty's abovementioned deal is encouraging as it
will help in enhancing its bulk industrial properties portfolio. In
addition, the transaction will strengthen the tenant base of this
real estate investment trust (REIT) and pave way for top-line
growth in the future.
Duke Realty currently carries a Zacks Rank #3 (Hold). Investors
interested in the REIT industry may also consider stocks like
The GEO Group, Inc.
Terreno Realty Corp.
Parkway Properties Inc.
). All these stocks sport a Zacks Rank #1 (Strong Buy).
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