Distributor and order fulfillment company will occupy all of 375,200-square-foot warehouse.
The St. Louis office of Duke Realty Corporation (NYSE: DRE), the leading domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that it has signed a long-term lease with Distribution Management, Inc. for Premier 370 Business Park 1001. The imaging supplies distributor and omni-channel order fulfillment company will occupy the entire 375,200-square-foot warehouse located at 1001 Premier Parkway in St. Peters. With this lease, all 2.5 million square feet in five buildings that Duke Realty has developed in Premier 370 Business Park, which is located just west of St. Louis off I-370, are 100 percent occupied.
“Premier 370 Business Park continues to be a preferred location for companies looking for modern, first-class industrial space with exceptional highway access,” said Matt Hrubes, Vice President of Leasing and Development for Duke Realty in St. Louis. “Distribution Management, like our other valued tenants in the park, benefit from Premier 370’s superior connections to I-70 and I-270 via I-370 which runs along the north side of the development and its proximity to a large and skilled labor pool in St. Charles County.”
Art Leichner and Andrew Crites with Newmark Knight Frank in Dallas as well as Kevin McLaughlin and Dan Lesinski with Newmark Grubb Zimmer in St. Louis represented Distribution Management in their lease. Geoff Orf with Colliers served as the listing agent for the property.
In addition to Premier 370 1001, Duke Realty’s buildings in the distribution hub include a 714,780-square-foot, build-to-suit warehouse for Reckitt Benckiser; a 299,830-square-foot building occupied by Grove Collaborative and Reckitt Benckiser; a 252,000-square-foot build-to-suit distribution center for Best Buy; and an 855,000-square-foot e-commerce distribution center. In addition to the five buildings developed by Duke Realty, two other parcels have been sold to outside parties and developed.
Approximately 80 acres of land in Premier 370 Business Park are still available for development or sale. Interested parties are invited to contact Mr. Hrubes at 314.514.6800.
About Duke Realty
In the St. Louis metro area, Duke Realty owns, manages or has under development 5.7 million square feet of industrial properties. Its office is located at 168 North Meramec Avenue, Suite 100, St. Louis, MO 63105.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 155 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is a member of 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.