{"id":1004066780,"date":"2013-02-06T06:51:32","date_gmt":"2013-02-06T14:51:32","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=101036"},"modified":"2021-05-14T14:23:19","modified_gmt":"2021-05-14T22:23:19","slug":"duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\/","title":{"rendered":"Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building"},"content":{"rendered":"<p><em>By Gabriel Circiog, Associate Editor<\/em><\/p>\n<p>Duke Realty Corporation recently announced the acquisition of 335 W. Crossroads\u2014a 288,000-square-foot industrial building in the I-55 submarket, which is Chicago\u2019s second-largest industrial market. The real estate investment trust, which specializes in the ownership, management and development of bulk industrial facilities, also announced it has leased 190,080 square feet in the building to RTC Industries.<\/p>\n<p>Located in Crossroads Business Park, the Class A industrial property <a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/Crossroads-V.jpeg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-101042\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/Crossroads-V.jpeg\" alt=\"\" width=\"300\" height=\"165\" \/><\/a>increases Duke Realty\u2019s industrial portfolio in the business park, where the REIT already owns 3.3 million square feet of industrial space in 10 fully leased buildings. The acquisition increases Duke Realty\u2019s overall Chicago-area portfolio to over 10.6 million square feet and helps the REIT to meet the expansion needs of RTC, which also leases the 503,200-square-foot Crossroads V building.<\/p>\n<p>\u201cRTC has been an excellent tenant with solid growth since becoming a Duke Realty tenant,\u201d said Steve Schnur, senior vice president of Duke Realty\u2019s Chicago operations. \u201cThe acquisition of 335 W. Crossroads allows us to provide RTC with the additional space it needs and complements our strategy of increasing our investment in quality industrial buildings in strong distribution markets.\u201d<\/p>\n<p><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/chicind.jpg\"><img decoding=\"async\" loading=\"lazy\" class=\"alignright size-medium wp-image-101043\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/chicind.jpg\" alt=\"\" width=\"300\" height=\"269\" \/><\/a>The seller of 35 W. Crossroads Parkway was represented by Jeff Kapcheck with Colliers International. Bill Frain, Todd Lippmann and Jim Whalen with CBRE represented RTC Industries in their lease.<\/p>\n<p>According to a recent report released by CBRE Global Research and Consulting, net absorption in the Chicago industrial market has increased to 16.9 million square feet compared to 2.4 million in 2010 and 15.7 million in 2011.<\/p>\n<p>For more market data from Chicago, <strong><a href=\"https:\/\/www.multihousingnews.com\/news\/market-snapshot-chicago-sees-largest-payroll-expansion-since-financial-crisis\/1004065001.html\" target=\"_blank\" rel=\"nofollow noopener\">click here<\/a><\/strong>.<\/p>\n<p><em>Photo Courtesy of: www.dukerealty.com<\/em><\/p>\n<p><em>Chart Courtesy of: CBRE Global Research and Consulting<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Duke Realty Corporation recently announced the acquisition of 335 W. Crossroads, a 288,000-square-foot industrial building in the I-55 submarket, which is Chicago&rsquo;s second largest industrial market. The real estate investment trust, which specializes in the ownership, management and development of bulk industrial facilities, also announced it has leased 190,080 square feet in the building to RTC Industries.<\/p>\n","protected":false},"author":264,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1491,21742],"tags":[1815],"class_list":["post-1004066780","post","type-post","status-publish","format-standard","hentry","category-chicago","category-latest","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building\" \/>\n<meta property=\"og:description\" content=\"Duke Realty Corporation recently announced the acquisition of 335 W. Crossroads, a 288,000-square-foot industrial building in the I-55 submarket, which is Chicago&rsquo;s second largest industrial market. The real estate investment trust, which specializes in the ownership, management and development of bulk industrial facilities, also announced it has leased 190,080 square feet in the building to RTC Industries.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2013-02-06T14:51:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-14T22:23:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2013\/02\/Crossroads-V.jpeg\" \/>\n<meta name=\"author\" content=\"Gabriel Circiog\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\\\/\"},\"author\":{\"name\":\"Gabriel Circiog\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/dc807179924e7fea3aeab259237f45a5\"},\"headline\":\"Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building\",\"datePublished\":\"2013-02-06T14:51:32+00:00\",\"dateModified\":\"2021-05-14T22:23:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\\\/\"},\"wordCount\":283,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2013\\\/02\\\/Crossroads-V.jpeg\",\"keywords\":[\"National\"],\"articleSection\":[\"Chicago\",\"News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/duke-realty-corporation-expands-portfolio-in-chicago-with-purchase-of-288000-sf-industrial-building\\\/\",\"name\":\"Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building - 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