Last-mile, speculative development in high-demand Central DuPage submarket will provide modern warehouse space for users with immediate needs.
The Chicago office of Duke Realty Corporation (NYSE: DRE), the nation’s leading pure-play, domestic-only, industrial property REIT (Real Estate Investment Trust), has begun construction of a 183,296-square-foot bulk warehouse in Glendale Heights in the Central DuPage submarket. The building, which is being developed on a speculative basis, is located at the center of the Chicago metropolitan area at 990 North Avenue (Route 64) just minutes from I-355.
“Leasing activity in the Central DuPage submarket has been extremely strong, due to its proximity to downtown Chicago and surrounding populous neighborhoods, especially by companies looking for last-mile distribution sites. However availability is very limited with no other active speculative development underway in the market, making it nearly impossible for customers to find more than 90,000 square feet of ready-to-move-into space,” said Susan Bergdoll, Vice President of Leasing and Development for Duke Realty in Chicago. “With this new speculative building, Duke Realty will be well-positioned to offer customers with immediate needs first-class space with excellent freeway access in this high-demand submarket”
Duke Realty’s new building in Glendale Heights is slated for delivery in November 2018. The building, which is being built on a recently acquired 13.4-acre parcel, will feature 32′ clear height, 18 dock doors, two drive-in doors and LED lighting. Surrounding the building will be 152 automobile parking spaces and 12 trailer staging spots. Duke Realty owns five other buildings totaling 1,372,054 square feet in the Central DuPage submarket, all of which are 100 percent leased
Parties interested in preleasing Duke Realty’s new industrial building at 990 North Avenue are invited to contact listing brokers Kelly Disser, Eric Tressler or Mike Freitag with NAI Hiffman at 630.317.0721 or Duke Realty’s leasing and development team at 847.232.5400.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development approximately 14.5 million square feet of industrial properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 1301 West 22nd Street, Suite 800, Oak Brook, Illinois, 60523. The office phone number is 847.232.5400.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 149 million rentable square feet of industrial assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.