Colliers to Lease 3.1 MSF Triangle Industrial Portfolio

The brokerage will market the available space in Duke Realty's five campuses in the Raleigh-Durham metro.
Greenfield North. Image courtesy of Colliers International

Duke Realty has named Colliers International to oversee leasing efforts for the industrial developer’s portfolio in the Raleigh-Durham, N.C., metro. The owner’s Triangle footprint includes 26 buildings encompassing 3.1 million square feet. At the time of the announcement, the assets were more than 98 percent leased. 

The warehouses delivered between 1990 and 2020, CommercialEdge data shows. The portfolio comprises:

  • Walnut Creek, a five-building campus encompassing 527,246 square feet;
  • Greenfield North, an eight-building park spanning 905,868 square feet with land to develop an additional 136,000-square-foot facility;
  • Woodlake Center, an 801,046-square-foot complex comprising seven buildings;
  • Perimeter Park, a four-building property totaling 358,036 square feet;
  • CenterPoint, two buildings spanning 555,376 square feet.

Colliers International Senior Vice President & Principals Larry Lakins and Hunter Willard, along with Assistant Vice President Andrew Young, will market the available space within the portfolio. The trio initially landed the leasing contract in October 2019 while working for Cushman & Wakefield. Earlier this month, Colliers hired the team which retained the right to market the properties.

Earlier this month, Duke Realty paid $40.6 million for an R&D/office park totaling 286,330 square feet in San Jose, Calif. The company intends to demolish the existing structures and build a 303,117-square-foot speculative warehouse at the site.