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Duke Realty (DRE) Seals long-term Lease with Premier LogiTech
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Duke Realty Corp. is witnessing increasing demand for its well-located industrial spaces amid the pandemic. The company recently sealed a long-term lease agreement with Premier LogiTech LLC pertaining to 178,984 square feet of space at Freeport II in Coppell, TX.
Particularly, with the lease agreement, the company secured a lease expansion, with improvements of 110,157 square feet of space at the project. Further, the agreement includes the extension of the present lease for 68,827 square feet in the same project for Premier.
Notably, the Freeport II facility at 600 South Royal Lane enjoys an advantageous location, having proximity to the Dallas-Fort Worth International Airport as well as access to key thoroughfares linking the Southwest region. This location seems to lure the tenant for the move, as the facility allows Premier LogiTech to reach its customers in 95% of the United States within three days, thus playing a key role in streamlining its logistics.
With significant demand in the Texas markets, Duke Realty is making strategic investments to tap its growth scope. It is poised to benefit from its strong development pipeline and improvements to its existing properties in its portfolio encompassing more than 24 million square feet of space.
Apart from Texas, Duke Realty is witnessing healthy demand in other markets as well, including New Jersey, and particularly, along the New Jersey Turnpike Corridor. Recently, 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. This advantageous location is likely to have enabled Duke Realty to immediately backfill the facilities following the prior tenant’s exit.
Remarkably, 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. 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 rising e-commerce activities across the nation and supply-chain strategy transformations, Duke Realty is targeting development options. Recently, the company raised the guidance for 2020 development starts to $775-$850 million, from the prior estimate of $650-$800 million, following significant development transactions since the beginning of the current quarter. (Read more: Duke Realty Raises Guidance for 2020 Development Starts)
With 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 enhance its presence in Tier 1 markets and address the increasing demand for its facilities.
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Duke Realty (DRE) Seals long-term Lease with Premier LogiTech
Duke Realty Corp. is witnessing increasing demand for its well-located industrial spaces amid the pandemic. The company recently sealed a long-term lease agreement with Premier LogiTech LLC pertaining to 178,984 square feet of space at Freeport II in Coppell, TX.
Particularly, with the lease agreement, the company secured a lease expansion, with improvements of 110,157 square feet of space at the project. Further, the agreement includes the extension of the present lease for 68,827 square feet in the same project for Premier.
Notably, the Freeport II facility at 600 South Royal Lane enjoys an advantageous location, having proximity to the Dallas-Fort Worth International Airport as well as access to key thoroughfares linking the Southwest region. This location seems to lure the tenant for the move, as the facility allows Premier LogiTech to reach its customers in 95% of the United States within three days, thus playing a key role in streamlining its logistics.
With significant demand in the Texas markets, Duke Realty is making strategic investments to tap its growth scope. It is poised to benefit from its strong development pipeline and improvements to its existing properties in its portfolio encompassing more than 24 million square feet of space.
Apart from Texas, Duke Realty is witnessing healthy demand in other markets as well, including New Jersey, and particularly, along the New Jersey Turnpike Corridor. Recently, 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. This advantageous location is likely to have enabled Duke Realty to immediately backfill the facilities following the prior tenant’s exit.
Remarkably, 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. 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 rising e-commerce activities across the nation and supply-chain strategy transformations, Duke Realty is targeting development options. Recently, the company raised the guidance for 2020 development starts to $775-$850 million, from the prior estimate of $650-$800 million, following significant development transactions since the beginning of the current quarter. (Read more: Duke Realty Raises Guidance for 2020 Development Starts)
With 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 enhance its presence in Tier 1 markets and address the increasing demand for its facilities.
Duke Realty currently carries a Zacks Rank #3 (Hold). The company’s shares have gained 7.6%, outperforming its industry’s increase of 1.6% over the past three months. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>