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Solid Demand Bringing in Good News for Duke Realty's Assets
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Duke Realty Corporation , along with its joint-venture (JV) partner, Browning, has been witnessing robust activity in AllPoints Midwest and AllPoints at Anson industrial parks located in Plainfield and Whitestown, respectively.
Notably, the JV inked new leases aggregating 783,892 square feet of industrial space and commenced four new industrial buildings in the first six months of 2018. Such active leasing activity resulted in complete occupancy at the three properties in AllPoints at Anson. Further, more than half of another building in the development is occupied. In addition, it has initiated two new developments that consist of a built-to-suit project and another building which is 100% preleased.
Some of the notable leases signed since the year’s beginning include a long-term lease for 134,500 square feet of area, build-to-suit space by Polymer Technology Systems, a 130,841-square-foot lease with Royal Interpack Midwest, Inc., and another lease with Kuehne + Nagel for 369,499 square feet of space.
The JV also announced construction of two new speculative projects. These include a 495,888-square-foot warehouse in AllPoints Midwest and another industrial facility spanning 149,072 square feet of space in AllPoints at Anson. The warehouse is located in the Indianapolis International Airport submarket. Meanwhile, the facility at Anson enjoys superior highway access owing to its convenient location near I-65 which connects Indianapolis and Chicago. The properties are slated to be delivered in first-quarter 2019.
Notably, the Indianapolis area enjoys a central location which offers distributors the scope to reach nearly 60% of the U.S. and Canadian population in a one-day drive, thus spurring demand for the company’s properties. Also, the company is focused to deliver ready-to-move-into space for companies with urgent needs. In addition, the company remains well equipped to offer build-to-suit facilities to cater specific requirements of tenants.
Per management, new speculative buildings are expected to increase the available space at AllPoints Midwest to 495,888 square feet, and AllPoints at Anson to 487,877 square feet.
All in all, industrial real estate investment trusts (REITs) are scaling new heights amid recovering economy and job market gains, as well as elevated consumption levels. Moreover, with a healthy manufacturing environment and high business inventories, the demand for warehouse and logistics real estate is anticipated to remain high. This, again, is aiding industrial REITs like Duke Realty, Prologis Inc. (PLD - Free Report) , Stag Industrial, Inc. (STAG - Free Report) and Liberty Property Trust .
Nonetheless, any protectionist trade policies will have an adverse impact on economic growth, as well as the company’s business over the long run.
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
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Solid Demand Bringing in Good News for Duke Realty's Assets
Duke Realty Corporation , along with its joint-venture (JV) partner, Browning, has been witnessing robust activity in AllPoints Midwest and AllPoints at Anson industrial parks located in Plainfield and Whitestown, respectively.
Notably, the JV inked new leases aggregating 783,892 square feet of industrial space and commenced four new industrial buildings in the first six months of 2018. Such active leasing activity resulted in complete occupancy at the three properties in AllPoints at Anson. Further, more than half of another building in the development is occupied. In addition, it has initiated two new developments that consist of a built-to-suit project and another building which is 100% preleased.
Some of the notable leases signed since the year’s beginning include a long-term lease for 134,500 square feet of area, build-to-suit space by Polymer Technology Systems, a 130,841-square-foot lease with Royal Interpack Midwest, Inc., and another lease with Kuehne + Nagel for 369,499 square feet of space.
The JV also announced construction of two new speculative projects. These include a 495,888-square-foot warehouse in AllPoints Midwest and another industrial facility spanning 149,072 square feet of space in AllPoints at Anson. The warehouse is located in the Indianapolis International Airport submarket. Meanwhile, the facility at Anson enjoys superior highway access owing to its convenient location near I-65 which connects Indianapolis and Chicago. The properties are slated to be delivered in first-quarter 2019.
Notably, the Indianapolis area enjoys a central location which offers distributors the scope to reach nearly 60% of the U.S. and Canadian population in a one-day drive, thus spurring demand for the company’s properties. Also, the company is focused to deliver ready-to-move-into space for companies with urgent needs. In addition, the company remains well equipped to offer build-to-suit facilities to cater specific requirements of tenants.
Per management, new speculative buildings are expected to increase the available space at AllPoints Midwest to 495,888 square feet, and AllPoints at Anson to 487,877 square feet.
All in all, industrial real estate investment trusts (REITs) are scaling new heights amid recovering economy and job market gains, as well as elevated consumption levels. Moreover, with a healthy manufacturing environment and high business inventories, the demand for warehouse and logistics real estate is anticipated to remain high. This, again, is aiding industrial REITs like Duke Realty, Prologis Inc. (PLD - Free Report) , Stag Industrial, Inc. (STAG - Free Report) and Liberty Property Trust .
Additionally, this Zacks Rank #3 (Hold) stock has rallied 9.8% in the past six months, outperforming 7.8% growth recorded by its industry. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nonetheless, any protectionist trade policies will have an adverse impact on economic growth, as well as the company’s business over the long run.
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>