Continuing with the decent pace of leasing activities for its
Duke Realty Corporation
) has now disclosed the signing of deals for 1.39 million square
feet of space in Coppell and the northwest Dallas region since 2014
commenced. With these transactions, Duke Realty's overall
industrial properties portfolio in Dallas, spanning 15 million
square feet, is 97.7% occupied.
Specifically, the above-mentioned deals include eight renewals
and four new leases. The deals have been inked with renowned
companies such as
JPMorgan Chase & Co.
Apart from these, the transaction comprises a fresh lease for
the recently announced new industrial development at the Point West
business park in Coppell. Actually, the company pre-leased 127,189
square feet of space of this 270,498-square-foot property to
These deals signify Duke Realty's 15-year success as one of the
leading owners of industrial assets in the Dallas/Fort Worth
Airport submarket region. The company's industrial properties in
the region are occupied to 98.2%, after these deals.
As a matter of fact, Dallas/Fort Worth Airport region's
industrial market has been proceeding strong since the past few
quarters with falling vacancy rates and rising average asking
rental rates. With excellent highway access and vicinity to the
airport and beyond, the industrial properties in this submarket are
among the top choices of the warehouse and distribution
Duke Realty seems to be capitalizing on it with its premium
industrial offerings that provide convenient linkage to all major
transport networks of the region. The pre-leasing of new industrial
development at Point West is a testament to this.
Of late, Duke Realty has been focusing more on scaling down its
suburban office assets to bolster its bulk industrial business.
Accordingly, last week, the company leased industrial building to
North Bay Distribution Inc. and ALG Direct Inc. in I-55 submarket
and gained solid traction in the Chicago market (Read:
Duke Realty Leasing Industrial Space in I-55
). We expect these portfolio repositioning efforts to boost this
Zacks Rank #2 (Buy) company's internal growth metrics in the near
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