Duke Realty breaks ground on two industrial buildings
Duke Realty Corp., one of the nation’s largest industrial developers, has broken ground on two warehouse buildings in South Florida.
The Indianapolis-based developer (NYSE: DRE) is looking to capitalize on the low vacancy rate for the region’s industrial space and the growing demand from tenants. The growth of e-commerce has been among the major factors in filling industrial buildings.
In the larger project, Duke Realty is constructing a 146,253-square-foot building called Turnpike Crossing 6717. With a 32-foot clear ceiling height and 231 parking spaces, it will be the fifth building in the company’s Turnpike Crossing business park. The building should be completed in December 2019.
Turnpike Crossing first broke ground in 2015 on the east side of Florida’s Turnpike at Jog Road. Duke Realty said the four completed buildings there are fully occupied.
“We will continue to meet the needs of companies who want to locate their operations in this robust market,” said Stephanie Rodriguez, VP of leasing and development for Duke Realty in South Florida. “We have steadily grown our South Florida portfolio to nearly 8 million square feet, adding high-quality, modern space through strategic developments and acquisitions. These two new buildings are excellent additions because they include features today’s warehouse users want and have excellent access to I-95 and other major roadways.”
Duke Realty also broke ground on Copans 1731, which will total 100,876 square feet at 1731 N.W. 24th Street in Pompano Beach. As previously reported by the Business Journal, the warehouse will replace an older industrial building.
The property is on the north side of Copans Road, a few blocks east of Powerline Road. It’s about five blocks west of Interstate 95.
Copans 1731 will have 32-foot clear ceiling height and 75 parking spaces. It should be ready in September 2019.