Duke Realty Secures Full-Building Lease at DFW Distribution Facility
- Mar 03, 2021
Duke Realty Corp. has secured a long-term lease with a global provider of wireless services and device management solutions at Lakeside Ranch 350, a speculative facility in Flower Mound, Texas.
Located at 350 Lakeside Parkway, the property comprises 274,994 square feet and is situated within the Class A, 18.2-acre master-planned Lakeside Ranch Business Park. The entire building has been leased and will serve as the tenant’s primary North American distribution space. The asset offers 61 dock positions and parking for 299 cars with room to expand. According to CommercialEdge data, the property was built in 2020 and also features a 140-foot truck court, loading doors, 56- by 60-foot column spacing and 32-foot clear heights.
Lakeside Ranch 350 is within close proximity to the Dallas/Fort Worth International Airport and State Highways 121 and 114, as well as Interstate 635.
Duke Realty was represented by its own Matt Hyman, Mark Miller, Rick Medinis and Randy Wood, along with NAI Robert Lynn. Newmark Real Estate’s Mitchell Wolf represented the tenant in the deal.
Jeff Thornton, senior vice president, Texas at Duke Realty, said in a prepared statement that the company has nearly 50 properties and more than 17 million square feet of state-of-the-art space in a market that is rapidly growing in population and talent.
The firm has had a busy start to 2021. In February, Duke Realty purchased two industrial buildings in Oakland, Calif., where the company plans to expand with new projects. Around that same time, the company also secured a long-term lease with Bob’s Discount Furniture to occupy a 622,230-square-foot distribution center that is currently under construction in Piscataway, N.J.