Duke Realty Corp.
) disclosed that it has been chosen by FedEx Trade Networks, the
freight forwarding wing of
), for a build-to-suit project at Camp Creek Business Center in
East Point, GA. The construction is expected to complete in
August this year.
In particular, Duke Realty will construct a 77,100 square feet
building for FedEx Trade Networks, which will be used by the
latter as a distribution and sales center. Accordingly, FedEx
Trade Networks penned a long-term lease deal with this commercial
real estate investment trust (REIT) to occupy the project upon
completion. As a matter of fact, this build-to-suit facility at
Camp Creek Business Center includes a 15,000 square feet office
Situated south of Atlanta and near Hartsfield-Jackson
International Airport, Camp Creek Business Center is a 400-acre,
mixed-use business park. The property, which is about 3 million
square feet developed to date, is a prime business hub of the
region. It boasts a diversified cluster of well-known tenants
such as Jaguar Land Rover North America of
Tata Motors Limited
), ADT Security Services and
Dick's Sporting Goods Inc.
We expect this deal to strengthen Duke Realty's ties with its
clients and bode well for top-line growth. As a matter of fact,
the company has made concerted efforts to lower its suburban
office assets as the fundamentals of this market remain weak. On
the other side, the company is focused on enhancing its bulk
industrial properties and reached its goal of 60% for this
segment's investment in 2013. The above-mentioned deal will
further boost Duke Realty's industrial assets portfolio base.
Duke Realty currently holds a Zacks Rank #3 (Hold).
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