Expanded Lease Deal with Ace Logistics Brings Chesapeake Commerce Center to Full Occupancy
The Washington, D.C./Baltimore office of Duke Realty Corporation (NYSE: DRE), the nation’s leading domestic-focused, industrial-only property REIT (Real Estate Investment Trust), announces that a current tenant, Ace Logistics, a Baltimore-based warehouse and logistics services provider, has expanded its footprint in Chesapeake Commerce Center by inking a lease deal for an additional 41,903 square feet of space. Ace Logistics already occupies two facilities in Chesapeake Commerce Center and has leased additional space at 5901 Holabird Avenue.
“It was just a couple of years ago that Duke Realty announced a lease renewal and expansion deal totaling 351,000 square feet of space with Ace Logistics that included a build-to-suit facility in Chesapeake Commerce Center,” said Battista Orcino, vice president, leasing and development for Duke Realty’s properties in the Washington, D.C., Baltimore and Raleigh. “Increased supply chain activity has fueled Ace Logistics’ growth and need for additional warehouse and distribution space. Thanks to our trusted and lasting association, we were able to find the space they needed just steps away from their existing space — strengthening our landlord/tenant relationship.”
Duke Realty’s Chesapeake Commerce Center is a first-class 2.4 million-square-foot, seven-building industrial park adjacent to the Port of Baltimore. Over the past 15 years, Duke Realty redeveloped and transformed Chesapeake Commerce Center into a modern industrial hub with state-of-the art warehouse space. Its superior highway access and proximity to the Seagirt and Dundalk Marine terminals have been beneficial to logistics companies with multiple transportation needs.
Ben Meisels with JLL represented the tenant and Battista Orcino represented Duke Realty in lease negotiations.
About Duke Realty
Duke Realty owns and operates approximately 162.4 million rentable square feet of industrial assets in 19 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a component of the S&P 500 Index. More information about Duke Realty is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook, Instagram and YouTube.
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