News
DUKE-ING IT OUT IN THE MARKET
November 29, 2010
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| Duke Realty is closing out the year with its industrial portfolio at 94% leased, helped by some really big deals like the 550K SF in leases to Dayton Superior and Safelite at Braselton Park 85. That's also despite acquiring JP Morgan's 2.3M SF in industrial properties along I-85—including Horizon Business Center, in which Duke was a 50/50 partner. To Duke's Sam O'Briant, this has been a slower year of big box deals. Duke focused on smaller, local tenants to help fill spaces. And 2011 will offer more of the same. Sam will elaborate more on his crystal ball as one of the panelists at Bisnow'sIndustrial Real Estate Summit tomorrow at the Westin in Buckhead (Hurry! Tickets are going fast.) ?We're just not seeing the big retailers getting out there and expanding their supply chains right now,? he says. Duke will also continue to focus on readjusting its real estate portfolio, selling more of its office holdings (especially in the Midwest) and buying more industrial properties along the East Coast. This past year alone, Duke acquired $1B in real estate. ?As a company, we're looking to increase our industrial portfolio ... to 60% industrial and 40% office,? he says. |
