Duke REIT to become largest commercial owner in Broward, Palm Beach counties

Real estate investment trust Duke Realty has closed on 43 out of 56 South Florida buildings in a commercial property portfolio it’s in the process of buying, according to the Florida Real Estate Journal. After Duke closes on all the properties, the Indiana-based REIT will become the largest commercial and industrial property owner in both Broward and Palm Beach counties. The 4.9 million-square-foot portfolio was sold by Premier Commercial Realty for $450 million. The final 13 properties in the deal are expected to close before the end of the first quarter of the year. [FREJ]