(Chicago, Ill. – Nov. 5, 2012) Duke Realty Corporation’s (Duke Realty) Chicago office has announced that it is expanding its industrial building at 1800 Averill Road in Geneva by 163,214 square feet to accommodate the needs of Peacock Engineering Company, LLC, a product packaging company that will continue to lease the existing 243,000-square foot building, as well as the new expansion space. Peacock Engineering also leases 720 Center Avenue, a 360,684-square foot Duke Realty building in Carol Stream. As part of the transaction, Peacock Engineering will enter into long-term lease agreements for the 766,898 square feet that it will occupy in the two buildings.
“Peacock Engineering is a growing food packaging company that wanted to remain in its existing properties because of the functionality of the space and the recent investments they have made in product handling equipment at the two locations,” said Steve Schnur, Senior Vice President of Duke Realty’s Chicago operations. “We are pleased that we are able to accommodate their needs in the two locations.”
Both 1800 Averill Road and 720 Center Avenue became Duke Realty-owned and managed properties as part of two industrial portfolio acquisitions the company made in the fourth quarter of 2011. Both buildings were already 100 percent leased by Peacock Engineering. To accommodate Peacock’s need for additional space, Duke Realty is purchasing a 6.50-acre parcel adjacent to 1800 Averill Road and will construct a 163,214-square foot, precast concrete warehouse/distribution facility with 28′ clear height, 22 dock doors, one drive-in door and 42′ x 48′ bay spacing.
Brian Kling with Colliers International represented Peacock Engineering in its lease transactions. Susan Bergdoll, Vice President of Leasing, represented Duke Realty.
About Duke Realty
In the greater Chicago area, Duke Realty owns, manages or has under development more than 11.8 million square feet of office, industrial and healthcare properties and has strategic land positions available for future development. Duke Realty’s local offices are located at 9377 West Higgins Road, Suite 600 in Rosemont.
On a nationwide basis, Duke Realty owns and operates approximately 142 million rentable square feet of industrial and office assets, including medical office, in 18 major U.S. cities. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke Realty is available at www.dukerealty.com.