No vacancy at Duke in Dallas

REIT fills 100 percent of its Big D industrial properties

Duke Freeport properties, Coppell, Texas (Roger Moore Photography)
Duke Freeport properties, Coppell, Texas (Roger Moore Photography)

Duke Realty’s Dallas properties are 100 percent leased, and Houston is almost there.

The Indianapolis company’s Dallas portfolio of more than 17 million square feet is completely leased. The company’s Texas office signed 10 new lease agreements and renewals totaling 1,306,320 square feet of industrial real estate space in the city during the fourth quarter of 2021. That includes a renewal and expansion of 260,819 square feet of space with automotive parts company Genera Corporation. Duke also signed a lease with Dynamic Glass Products, a supplier of privacy glass, for 116,980 square feet of space.

Its Houston portfolio has one vacancy: 168,850 square feet in Humble, Texas, near the George Bush International Airport. Deals in that city included the leasing of 240,000 square feet to a “global e-commerce retailer,” according to a press release.

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E-commerce, “expanding inventory strategies” and regular supply-chain distribution have created “historically high demand for industrial space,” said Duke’s regional senior vice president and Texas market leader, Jeff Thornton. “Our primary submarkets are realizing vacancy rates of 2 to 3 percent in Dallas and approximately 6 percent in Houston.”

Duke Realty, which is a publicly traded company, owns and operates about 162.4 million rentable square feet of industrial assets in 19 major U.S. logistics markets.

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