Duke Realty Begins New Construction on Office Building For Clear Channel Entertainment in Aurora, Illinois.CHICAGO -- Motor Sports Division Sports Division was one of the biggest sports retailers in the United Kingdom during the 1990s. In 1998 it was sold to its main competitor, JJB Sports for approximately £295 Million. It was set up by Sir Tom Hunter in 1984, to sell trainers, see article about him for more information. Will Relocate to New Facility in Meridian Business Campus Facility is First Suburban Build-to-Suit Office Transaction in 12 Months Duke Construction has broken ground on a 44,120 square-foot, build-to-suit office facility for Clear Channel Entertainment Motor Sports, a division of Clear Channel Entertainment in the Meridian Business Campus in suburban Chicago. Upon Duke's completion of the Aurora, Ill., project in the third quarter of 2005, Clear Channel Entertainment Motor Sports will relocate to the new facility at 4255 Meridian Parkway from its current location at 495 N. Commons Dr. in Aurora. The building, which will be expandable by 20,000 square feet, is the first suburban Chicago office build-to-suit started in all of 2004, as well as the first office project launched in the last two years in the Chicago market by Duke Realty, parent company of Duke Construction. Also at the mixed-use Meridian Business Campus, Duke is developing and constructing a 200,000-square-foot warehouse and light manufacturing facility for Victory Packaging. That building will also be completed in the third quarter of 2005. Clear Channel Entertainment Motor Sports is one of the world's largest producers and promoters of specialized motorcycle, truck and drag racing drag racing Form of motor racing in which two contestants race side by side from a standing start over a straight quarter-mile strip of pavement. Winners go on to compete against others in their class until only one is left undefeated. events, including the THQ THQ Toy Headquarters THQ Territorial Headquarters THQ Tehsil Headquarters (Pakistan) THQ The Holy Quran THQ Theater Headquarters World Supercross GP/THQ AMA (Automatic Message Accounting) The recording and reporting of telephone calls within a telephone system. It includes the calling and called parties and start and stop times of the call. Supercross Series, National Arenacross Series, USHRA USHRA United States Hot Rod Association (R) Monster Jam(R) and Thundernational monster truck A monster truck is an automobile, typically a pickup truck, which has been modified or purposely built with extremely large wheels and suspension. They are used for popular entertainment and in some cases they are featured alongside Motocross races, mud bogging, tractor pulls and events and Hooter's IHRA IHRA International Harm Reduction Association IHRA International Hot Rod Association IHRA International Hotel & Restaurant Association IHRA International Human Rights Association (Delhi, India) (R) Drag Racing Series. "Clear Channel typically leases office space, and it does so from Duke in several other markets," said Steve Schnur, Duke's Senior Vice President, Chicago Office Group. "Because of the favorable working relationship our two companies enjoy, we presented a real estate ownership option that proved cost effective and beneficial for Clear Channel. They trusted our insight and expertise and agreed to build to own." Charlie Mancuso, Clear Channel Entertainment Motor Sports' President said, "It was a good business decision to pursue this real estate ownership option. Our company is comfortable in the Meridian Business Campus and is very excited about this business deal with Duke. It solidifies our future in this area for years to come." John G. Musgjerd and Fred Schuler of Staubach Midwest represented Clear Channel Entertainment Motor Sports on the transaction. Outside brokers representing Duke were Daniel B. O'Neill and Jim Adler from NAI See Network Associates. Hiffman. Duke's internal team on the deal included Schnur, Ryan O'Leary, Vice President Leasing, and Paul Laird, Vice President Construction. In the greater Chicago area, Duke Realty Corporation employs more than 60 associates, and owns, manages or has under development more than 7.2 million square feet of office and industrial properties. It also controls more than 240 acres of land available for future development. Duke Construction delivers office, industrial and retail construction solutions for Duke's portfolio and third-party customers across the Midwest and South. Duke Construction was listed as the largest general contractor of warehouse and distribution facilities by Engineering News-Record in 2004. The thousands of satisfied customers and millions of square feet constructed during Duke's 30 years in business is a testament to the company's success. Its locally-based construction teams have the capacity to serve projects as a Program Manager, Design Builder, General Contractor or Construction Manager and can travel virtually anywhere to meet client needs. Duke Realty Corporation (NYSE NYSE See: New York Stock Exchange :DRE DRE Digital rectal examination. Mentioned in: Rectal Examination )is one of the largest real estate companies in the United States with a total market capitalization Total Market Capitalization The total market value of all of a firm's outstanding securities. approaching $8 billion. The Company is a full-service commercial real estate company that owns, manages or has under development more than 109 million square feet of industrial, office and retail properties in 14 major U.S. cities. Duke, which controls 4,600 acres of undeveloped land that can support approximately 69 million square feet of future development, also provides nationwide real estate solutions through its national development and construction division. More information about Duke is available on the Internet: www.dukerealty.com For an updated list of available space from Duke, visit www.dukespacefinder.com |
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