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Duke Realty (DRE) Inks Lease Deal for Facility Near Tampa
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Duke Realty Corp. has carved its name firmly in the industrial real estate market, and has recently signed a lease for a 112,000-square-foot build-to-suit facility near Tampa, FL. It is scheduled for completion early next year and an e-commerce company will fully occupy this property.
Markedly, the logistics building is the third and final warehouse in the Tampa Regional Industrial Park, which is a 892,300-square-foot logistics development located at the intersection of US 41 and Big Bend Road in Gibsonton, FL. The industrial park enjoys direct access to I-75 and is just 12 miles south of I-4.
As such, with easy access to the Tampa metropolitan area and beyond because of its proximity to two major Central Florida interstates, the three buildings in the industrial park have been able to grab tenants’ attention and achieve 100% leasing.
As a matter of fact, demand for logistics infrastructure and efficient distribution networks has been shooting up amid the e-commerce boom, growth in industries and companies making efforts to improve supply-chain efficiencies. This is helping the industrial real estate market to prosper.
Moreover, apart from the fast adoption of e-commerce, logistics real estate is anticipated to benefit from a likely increase in inventory levels post the global health crisis, 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) , to enjoy a favorable market environment.
Given Duke Realty’s solid capacity to offer modern, high-quality logistics facilities, the company is well poised to bank on this trend. Its Central Florida portfolio comprises of properties in Tampa and Orlando, FL, aggregating 4.4 million square feet. The company also has a solid nationwide property base with the REIT owning, maintaining an interest in or having under development roughly 162 million rentable square feet of industrial assets in 20 key U.S. logistics markets, enabling it to benefit from the healthy trend in the industrial real estate market.
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.
However, with the asset category being attractive in these challenging times, there is a development boom in a number of markets. This high supply is likely to fuel competition and curb pricing power. New supply is likely to put pressure on vacancy level, which is likely to shoot up to some extent in the upcoming quarters.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
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Duke Realty (DRE) Inks Lease Deal for Facility Near Tampa
Duke Realty Corp. has carved its name firmly in the industrial real estate market, and has recently signed a lease for a 112,000-square-foot build-to-suit facility near Tampa, FL. It is scheduled for completion early next year and an e-commerce company will fully occupy this property.
Markedly, the logistics building is the third and final warehouse in the Tampa Regional Industrial Park, which is a 892,300-square-foot logistics development located at the intersection of US 41 and Big Bend Road in Gibsonton, FL. The industrial park enjoys direct access to I-75 and is just 12 miles south of I-4.
As such, with easy access to the Tampa metropolitan area and beyond because of its proximity to two major Central Florida interstates, the three buildings in the industrial park have been able to grab tenants’ attention and achieve 100% leasing.
As a matter of fact, demand for logistics infrastructure and efficient distribution networks has been shooting up amid the e-commerce boom, growth in industries and companies making efforts to improve supply-chain efficiencies. This is helping the industrial real estate market to prosper.
Moreover, apart from the fast adoption of e-commerce, logistics real estate is anticipated to benefit from a likely increase in inventory levels post the global health crisis, 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) , to enjoy a favorable market environment.
Given Duke Realty’s solid capacity to offer modern, high-quality logistics facilities, the company is well poised to bank on this trend. Its Central Florida portfolio comprises of properties in Tampa and Orlando, FL, aggregating 4.4 million square feet. The company also has a solid nationwide property base with the REIT owning, maintaining an interest in or having under development roughly 162 million rentable square feet of industrial assets in 20 key U.S. logistics markets, enabling it to benefit from the healthy trend in the industrial real estate market.
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.
However, with the asset category being attractive in these challenging times, there is a development boom in a number of markets. This high supply is likely to fuel competition and curb pricing power. New supply is likely to put pressure on vacancy level, which is likely to shoot up to some extent in the upcoming quarters.
Duke Realty currently carries a Zacks Rank #3 (Hold). The company’s shares have gained 32.4% over the past year, outperforming its industry’s rally of 24.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>