Speculative development will provide modern warehouse space for users with immediate needs in high-demand Cincinnati metro area.
The Cincinnati office of Duke Realty Corporation (NYSE: DRE), the nation’s leading, domestic-only, pure-play industrial property REIT (Real Estate Investment Trust), has begun construction of Fairfield Logistics Center 7940, a 284,865-square-foot bulk warehouse in Fairfield just north of Cincinnati. The building, which is being developed on a speculative basis, is located on Seward Road near its intersection with Tylersville Road and just north of several Duke Realty industrial properties in the Cincinnati metro area, including Union Centre Industrial Park in West Chester. Fairfield Logistics Center 7940 will be accessible via multiple routes and is within five miles of both I-75 and I-275.
“Fairfield Logistics Center 7940 offers users a rare opportunity to lease first-generation, modern warehouse space with excellent highway access in this high-demand market,” said Dan Colletto, Vice President of Leasing and Development for Duke Realty in Cincinnati. “With our existing portfolio at or near 100 percent occupancy, we felt it was important to bring to market new, first-class speculative space so that we would be well-positioned to meet the needs of customers with immediate requirements.”
“Leasing activity has been extremely strong in the Cincinnati metro area because of its central location, making it ideal for distributors looking to reach a majority of the U.S. population within a one-day drive,” said John Gartner III, Senior Vice President with Colliers and the listing broker for the building. “And with demand by consumers for increasingly quick deliveries, Fairfield Logistics Center 7940 is a great choice as a last-mile delivery facility due to its location in the TriCounty submarket and highway accessibility.”
Duke Realty’s new building in Fairfield is slated for delivery in the fourth quarter of this year. The building, which is being built on a recently acquired 22.8-acre parcel, will feature 32′ clear height, 53 dock doors, two drive-in doors and LED lighting. Outside of the building will be a 130’ truck court and 67 trailer and 275 automobile parking spaces, with expansion capabilities of up to an additional 220 parking spots for cars. Fairfield Logistics Center 7940 will increase Duke Realty’s industrial portfolio in the Tri-County submarket to 19 totaling more than 6.1 million square feet, all of which are 100 percent leased.
Parties interested in preleasing Fairfield Logistics Center 7940 are invited to contact listing broker John Gartner III with Colliers at 513.562.2207 or Erin Casey at 513.562.2225.
About Duke Realty
In the greater Cincinnati metro area, Duke Realty owns, manages or has under development more than 9.7 million square feet of industrial properties. Duke Realty’s local offices are located at 5181 Natorp Avenue, Suite 600, Cincinnati, OH 45050. The office phone number is 513.234.3700.
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.