We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Duke Realty (DRE) Expands Portfolio With Warehouse & Site Buyout
Read MoreHide Full Article
Duke Realty is on an acquisition spree. The company recently announced the acquisition of a 63,265-square-foot distribution facility positioned on 3.2 acres at 468 South Humane Way in Pomona, CA. With this buyout in the highly in-demand San Gabriel Valley submarket, Duke Realty’s portfolio in Southern California now exceeds 18 million square feet.
The building is fully leased to the manufacturer of garments and gifts — Golden Grove Trading Inc. — and serves as its headquarter and distribution center. Demand is high for the modern distribution space in the San Gabriel Valley submarket that is close to the nearly 15 million residents who live within a 50-mile radius.
Duke Realty also announced the acquisition of a 53-acre site in Newark, NJ, less than one mile from the Port of New York/New Jersey, Liberty International Airport and the I-95 New Jersey Turnpike. The site is accessible from Delancy Street and enjoys the overweight container road access.
The move comes as part of the company’s focus on expansion in high-barrier tier 1 markets. The market enjoys high demand for the industrial properties but due to limited sites, the buyout is a strategic fit.
The 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 has been aiding the industrial REITs, including Duke Realty, Prologis (PLD - Free Report) , Rexford Industrial Realty, Inc. (REXR - Free Report) and Terreno Realty Corporation (TRNO - Free Report) .
Apart from the fast adoption of e-commerce, logistics real estate is poised to benefit from an increase in the inventory levels post the global health crisis, opening up possibilities for Prologis, Duke Realty, Rexford Industrial Realty and Terreno Realty Corporation to enjoy a favorable market environment.
Duke Realty, which has emerged as a domestic pure-play industrial real estate investment trust, is well-positioned to bank on the favorable environment backed by its solid operating platform and robust scale.
Shares of Zacks Rank #3 (Hold) DRE have gained 15.1% in the past three months compared with the industry’s rally of 2.1%.
Image: Bigstock
Duke Realty (DRE) Expands Portfolio With Warehouse & Site Buyout
Duke Realty is on an acquisition spree. The company recently announced the acquisition of a 63,265-square-foot distribution facility positioned on 3.2 acres at 468 South Humane Way in Pomona, CA. With this buyout in the highly in-demand San Gabriel Valley submarket, Duke Realty’s portfolio in Southern California now exceeds 18 million square feet.
The building is fully leased to the manufacturer of garments and gifts — Golden Grove Trading Inc. — and serves as its headquarter and distribution center. Demand is high for the modern distribution space in the San Gabriel Valley submarket that is close to the nearly 15 million residents who live within a 50-mile radius.
Duke Realty also announced the acquisition of a 53-acre site in Newark, NJ, less than one mile from the Port of New York/New Jersey, Liberty International Airport and the I-95 New Jersey Turnpike. The site is accessible from Delancy Street and enjoys the overweight container road access.
The move comes as part of the company’s focus on expansion in high-barrier tier 1 markets. The market enjoys high demand for the industrial properties but due to limited sites, the buyout is a strategic fit.
The 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 has been aiding the industrial REITs, including Duke Realty, Prologis (PLD - Free Report) , Rexford Industrial Realty, Inc. (REXR - Free Report) and Terreno Realty Corporation (TRNO - Free Report) .
Apart from the fast adoption of e-commerce, logistics real estate is poised to benefit from an increase in the inventory levels post the global health crisis, opening up possibilities for Prologis, Duke Realty, Rexford Industrial Realty and Terreno Realty Corporation to enjoy a favorable market environment.
Duke Realty, which has emerged as a domestic pure-play industrial real estate investment trust, is well-positioned to bank on the favorable environment backed by its solid operating platform and robust scale.
Shares of Zacks Rank #3 (Hold) DRE have gained 15.1% in the past three months compared with the industry’s rally of 2.1%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.