Duke Realty Preleases ~299K SF Speculative Development in Bellwood, Illinois
Distribution Center Accommodates Chicagoland Snack Food Company’s National Expansion
The Chicago office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, secured a long-term lease agreement with a leading snack food manufacturer. Duke Realty announced the start of the 299,520-square-foot development on 19 acres at 110 North 25th Avenue in Bellwood, Illinois, earlier this year.
“Among Bellwood’s strengths are our quality workforce and our willingness to support ambitious redevelopment projects,” said Mayor Andre Harvey, Village of Bellwood. “This planned development aligns with our strengths and offers our vibrant community positive economic impact and job opportunities helping position the Village of Bellwood for future growth and continued long-term stability.”
Duke Realty’s facility in Bellwood is scheduled for completion in early 2022 and will provide the client with nearly 300,000 square feet of space, minutes from their manufacturing facilities.
“As this new client’s customer list continues to expand to globally-recognized retailers and wholesalers, they needed additional space in close proximity to their manufacturing facilities to meet the added demand for their products,” said Josh Bauer, Duke Realty’s vice president of leasing and development in Chicago. “Our newest, state-of-the-art facility in the Village of Bellwood expands our new client’s distribution network beyond its current manufacturing facilities and allows for further growth in an emerging and welcoming community with a diverse workforce.”
The distribution center boasts 36 feet of clear height, 30 dock doors, 85 trailer parking spaces and 345 auto spaces. The facility is being built to LEED® certification standards — meeting requirements for environmentally sustainable construction and site development, water savings, energy efficiency and construction waste management.
Kris Bjorson at JLL represented the tenant and Jason Lev and John Suerth at CBRE, together with Duke Realty’s Josh Bauer represented Duke Realty.
About Duke Realty
On a nationwide basis, Duke Realty owns and operates approximately 160 million rentable square feet of industrial assets in 19 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook, Instagram and YouTube.
To become an IWLA member visit, https://www.iwla.com/become-an-iwla-member/