(Dallas – February 2, 2021) The Dallas office of Duke Realty Corporation (NYSE: DRE), the leading domestic only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces the lease renewal and expansion for Plastipak Packaging Inc. (Plastipak) at its 3200 Kingsley Road facility. The deal secures a long-term lease agreement for 470,590 square feet of space within the 531,950-square-foot warehouse in Garland, Texas.
“As a leading industrial property manager in the Dallas/Fort Worth market, Duke Realty values its tenant relationships and works closely with them to plan for their changing business needs,” said Jeff Thornton, senior vice president of the Texas region at Duke Realty. “A planned vacancy within the property currently occupied by Plastipak allowed us to provide Plastipak with the opportunity to consolidate separate warehousing locations into one space, providing Plastipak with the opportunity to improve efficiencies across their supply chain and plan for future growth. We strategically planned for this expansion 5 years ago and it was rewarding to see that we were able to meet Plastipak’s evolving space requirement while strengthening our landlord-tenant relationship.”
The 3200 Kingsley warehouse has access to I-635/I-20, I-30 and I-75 and is cross docked with 92 dock doors, three drive-in doors, parking for up to 583 cars and 39 trailers. Plastipak is expected to begin occupying the expanded space in March 2021.
“We are working with Plastipak to make improvements to the additional 70,590 square feet of space they will soon occupy,” said Bryan Parker, Duke Realty vice president of leasing in Dallas. “We will continue to invest in our properties, ensuring we have the most modern industrial real estate portfolio in the Dallas/Fort Worth market and we will continue to foster our client relationships.”
Parker and Matt Hyman, vice presidents of leasing in Dallas represented Duke Realty and Andrew McCaig with Benchmark Partners represented Plastipak in the negotiations.
About Duke Realty
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 159 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member 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 and YouTube.