Duke Realty Taps JLL to Lease Cincinnati-Area Portfolio
- Feb 02, 2015
By Adrian Maties, Associate Editor
Duke Realty Corp. has selected JLL as the new leasing team for its 2.2 million-square-foot office portfolio in Greater Cincinnati.
The 19 predominantly suburban buildings are located in four Cincinnati submarkets. It represents the largest office portfolio in the region. The Indianapolis-based REIT remains of the largest landlords in Greater Cincinnati, even after it sold six of its office properties last year to Hines for more than $150 million.
The sale was part of the company’s long-term strategy to transform its portfolio into primarily industrial and medical office assets. Just a few days ago, Duke announced the sale of 62 office properties in Nashville, Raleigh, N.C., South Florida and St. Louis to Starwood Capital Group.
Duke’s Cincinnati-area portfolio includes such buildings as Deerfield Crossing in Mason, Westlake Center and Pfeiffer Woods in Blue Ash, Kenwood Commons in Kenwood and 311 Elm in downtown Cincinnati. The company will continue to manage all of the properties in house.
Jay Morey, Senior Vice President of JLL, will represent Duke’s interest in the office market.
Photo credit: Duke Realty Corp.