Duke Realty of Orlando Announces Acquisition of 42 Acres; Crossroads Business Park to Capitalize on Submarket Strength & Company Success.ORLANDO, Fla. -- New Distribution Park to boost Duke Realty's Florida Portfolio to 6 million S.F. Duke Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. Corporation of Orlando today announced the acquisition of the remaining 41.6 acres of undeveloped land in the Crossroads Business Park in the Regency/Southwest submarket sub·mar·ket n. A geographic, economic, or specialized subdivision of a market. adj. Being below what is usual in a particular market: submarket wages; submarket interest rates. in South Orlando. "This acquisition allows us to further capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. our success at our nearby Parksouth Distribution Center in a submarket with a low vacancy rate and strong positive absorption," said Doug Irmscher, Senior Vice President of Duke Realty's Florida Operations. "Access to major highways and our ability to deliver new, 30 foot-clear, Class A distribution product make Crossroads Business Park a highly desirable location for companies looking to distribute throughout central Florida
Central Florida is the central region of the United States state of Florida, on the East Coast. ." The company plans to construct approximately 800,000 S.F. of distribution space in six buildings, increasing Duke Realty's Florida portfolio to more than six million S.F. Duke Construction of Orlando will build the distribution/warehouses. Crossroads Business Park is a 200-acre distribution park located along the south side of the Beeline bee·line n. A direct, straight course. intr.v. bee·lined, bee·lin·ing, bee·lines To move swiftly in a direct, straight course. Expressway across from the Florida Mall. The park has excellent access to the Florida Turnpike turnpike, road paid for partly or wholly by fees collected from travelers at tollgates. It derives its name from the hinged bar that prevented passage through such a gate until the toll was paid. See also road. , Beeline Expressway and Interstate 4. Duke Realty plans to develop the park during the next three years through a combination of Speculative Development and Build to Suits. "Outside of Crossroads, land positions in south Orlando upon which to develop significant distribution facilities are limited. Crossroads is fully improved with all utilities and infrastructure in place and ready for development," Mr. Irmscher said. Duke Realty of Orlando's portfolio includes approximately three million S.F. of office and industrial commercial real estate. The Company controls approximately 155 acres of undeveloped land for future development and employs more than 35 real estate professionals in the greater Orlando Greater Orlando, alternatively known as the Orlando Area or Metro Orlando, is third most populated metropolitan region in the state of Florida, and the 27th-largest metro area in the United States. market. Duke Realty's Central Florida portfolio of office and industrial commercial real estate exceeds five million S.F. Duke Realty Corporation is the largest publicly traded office and industrial real estate company in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The Company is a full-service commercial real estate company that owns, manages or has under development more than 112 million square feet of industrial, office and retail properties in 14 major U.S. cities. Duke Realty, 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. For more information, please visit Duke Realty Corporation on the web at www.dukerealty.com. For an updated list of available space from Duke Realty, visit www.dukespacefinder.com |
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