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Duke goes on buying spree to locate in key markets developer gets footholds in D.C., Savannah, Baltimore.
Publication:
Indianapolis Business Journal
Publication Date: 20-FEB-06 |
Format: Online
Delivery: Immediate Online Access |
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Full Article Title: Duke goes on buying spree to locate in key markets developer gets footholds in D.C., Savannah, Baltimore.(Duke Realty Corp) |
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Article Excerpt
Less than two months into the new year, Duke Realty Corp. has already made three major moves designed to fuel the company's growth long beyond 2006.
The Indianapolis-based real estate investment trust has announced or completed acquisitions in the Washington, D.C., area; Savannah, Ga.; and Baltimore worth more than $1 billion.
In the case of Savannah and Baltimore, the deals give Duke prime positions near city ports--locations company officials believe will be key to the distribution business in coming years.
So where does that leave Indianapolis, Duke's industrial stronghold and one of the nation's top spots for distribution centers?
"I don't think that's going to change," said Duke CEO Dennis Oklak. "We still see strength and a tremendous amount of demand on the industrial side."
He noted that at the end of 2005, Duke's modem bulk industrial portfolio--most of it in...
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