The industrial asset class has grabbed the limelight for showing resilience amid the coronavirus pandemic with low vacancy rates, high asking rents and robust rent collections. Amid this, the domestic-only, pure-play logistics property REIT Duke Realty Corp. is also witnessing solid demand for its well-located industrial real estates.
Recently, this industrial landlord secured a lease with MiD, Inc. for 36,228 square feet of space at 2800 Perimeter Park in Morrisville, NC. The tenant is in the business of offering installation services of major appliances for new construction and multi-family developments, right from Raleigh to the Carolina coast.
Notably, the three-million-square-foot, master-planned office and industrial development — Perimeter Park — enjoys an advantageous location, having situated off I-40 and I-540, and only three minutes from Raleigh-Durham International Airport. In fact, being centrally located between Raleigh, Durham and Chapel Hill, the property is likely to enjoy healthy demand over the long term.
Amid significant demand in the Raleigh metro area, Duke Realty is well poised to bank on robust fundamentals with its 3.1 million square feet of industrial properties. Apart from Raleigh metro area, Duke Realty is witnessing healthy demand in other markets as well, including Texas, New Jersey, and particularly along the New Jersey Turnpike Corridor.
Recently, the company sealed a long-term lease agreement with Premier LogiTech LLC pertaining to 178,984 square feet of space at Freeport II in Coppell, TX. Moreover, the company signed lease deals for two neighboring distribution facilities in Cranbury, promptly backfilling the facilities following the prior tenant’s relocation. Both facilities are minutes from the New Jersey Turnpike Exit 8A.
Amid the pandemic, there has been a surge in e-commerce’s share of total retail sales, spurring demand for warehouses and distribution spaces. Apart from the fast adoption of e-commerce, the industrial real estate space is anticipated to gain traction over the long run from a likely rise in the inventory levels of companies as a precaution for any supply-chain disruptions, offering scope to industrial landlords, including Duke Realty, Prologis (PLD - Free Report) , Terreno Realty Corporation (TRNO - Free Report) and Rexford Industrial Realty, Inc. (REXR - Free Report) , among others, to enjoy a favorable market environment.
With healthy leasing activities and a robust pipeline of development, both build-to-suit and speculative, as well as an active pipeline of build-to-suit prospects, Duke Realty is well poised to fortify its presence in Tier 1 markets and bank on the rising demand for the company’s facilities. In fact, following significant development transactions since the beginning of the current quarter, the company has raised the guidance for 2020 development starts to $775-$850 million from the prior estimate of $650-$800 million. (Read more: Duke Realty Raises Guidance for 2020 Development Starts)
Duke Realty currently carries a Zacks Rank #3 (Hold). The company’s shares have gained 6.4%, outperforming its industry’s rally of 4.9% over the past three months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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The industrial asset class has grabbed the limelight for showing resilience amid the coronavirus pandemic with low vacancy rates, high asking rents and robust rent collections. Amid this, the domestic-only, pure-play logistics property REIT Duke Realty Corp. is also witnessing solid demand for its well-located industrial real estates.
Recently, this industrial landlord secured a lease with MiD, Inc. for 36,228 square feet of space at 2800 Perimeter Park in Morrisville, NC. The tenant is in the business of offering installation services of major appliances for new construction and multi-family developments, right from Raleigh to the Carolina coast.
Notably, the three-million-square-foot, master-planned office and industrial development — Perimeter Park — enjoys an advantageous location, having situated off I-40 and I-540, and only three minutes from Raleigh-Durham International Airport. In fact, being centrally located between Raleigh, Durham and Chapel Hill, the property is likely to enjoy healthy demand over the long term.
Amid significant demand in the Raleigh metro area, Duke Realty is well poised to bank on robust fundamentals with its 3.1 million square feet of industrial properties. Apart from Raleigh metro area, Duke Realty is witnessing healthy demand in other markets as well, including Texas, New Jersey, and particularly along the New Jersey Turnpike Corridor.
Recently, the company sealed a long-term lease agreement with Premier LogiTech LLC pertaining to 178,984 square feet of space at Freeport II in Coppell, TX. Moreover, the company signed lease deals for two neighboring distribution facilities in Cranbury, promptly backfilling the facilities following the prior tenant’s relocation. Both facilities are minutes from the New Jersey Turnpike Exit 8A.
Amid the pandemic, there has been a surge in e-commerce’s share of total retail sales, spurring demand for warehouses and distribution spaces. Apart from the fast adoption of e-commerce, the industrial real estate space is anticipated to gain traction over the long run from a likely rise in the inventory levels of companies as a precaution for any supply-chain disruptions, offering scope to industrial landlords, including Duke Realty, Prologis (PLD - Free Report) , Terreno Realty Corporation (TRNO - Free Report) and Rexford Industrial Realty, Inc. (REXR - Free Report) , among others, to enjoy a favorable market environment.
With healthy leasing activities and a robust pipeline of development, both build-to-suit and speculative, as well as an active pipeline of build-to-suit prospects, Duke Realty is well poised to fortify its presence in Tier 1 markets and bank on the rising demand for the company’s facilities. In fact, following significant development transactions since the beginning of the current quarter, the company has raised the guidance for 2020 development starts to $775-$850 million from the prior estimate of $650-$800 million. (Read more: Duke Realty Raises Guidance for 2020 Development Starts)
Duke Realty currently carries a Zacks Rank #3 (Hold). The company’s shares have gained 6.4%, outperforming its industry’s rally of 4.9% over the past three months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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