Digital graphics company will occupy all of 153,990-square-foot warehouse.
The Raleigh/Washington, DC 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 that it has signed a long-term lease with Circle Graphics, Inc. for Woodlake 501. The large-format digital graphics producer will occupy the entire 153,990-square-foot warehouse located at 501 Innovation Avenue in Morrisville.
“We are very pleased to welcome Circle Graphics to Woodlake 501, one of our seven, high-quality industrial buildings in Woodlake Center,” said Battista Orcino, Vice President of Leasing and Development for Duke Realty in Raleigh. “With their lease, we were able to immediately backfill an upcoming lease expiration with a high quality tenant and maintain 100 percent occupancy in this well-located distribution park.”
“Convenient highway access and functional space are very important to our operations, and Woodlake 501 met all of our requirements,” said David Halter, Executive Vice President of Operations with Circle Graphics. “The building provides the square footage, parking and dock access we need, and its location just off I-40 and I-540 and proximity to Raleigh-Durham International Airport and the Research Triangle are unparalleled.”
Lee Holder and Chris Wiley with Colliers International represented Circle Graphics in their lease. Larry Lakins, Hunter Willard and Andrew Young with Cushman & Wakefield served as the listing agent for the property.
Parties interest in leasing space or build-to-suit opportunities in the Raleigh area are invited to contact Mr. Lakins by phone at 919.791.2114 or 919.815.5327 or by email at larry.lakins@cushwake.com. At its Greenfield North Business Park, Duke Realty has available for lease a speculative, 165,921-square-foot bulk warehouse under construction that will deliver in July and 10.87-acre site that will support a 136,454-square-foot building.
About Duke Realty
In the Raleigh metro area, Duke Realty owns and manages 3.2 million square feet of industrial properties. Duke Realty operates its Raleigh portfolio out of its office located at 2900 S. Quincy Street, Suite 310, Arlington, VA 22206.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 156 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.
