The Nashville office of Duke Realty Corporation (NYSE: DRE), the leading domestic-only, pure-play logistics property REIT (Real Estate Investment Trust) in the United States, announces that it has renewed its lease with Starbucks Corporation in Park 840 East 1009.
The global coffeehouse chain and beverage retailer will continue to occupy the entire 680,160-square-foot logistics building which is located just off I-840 at Highway 109 in Lebanon, Tennessee.
'Duke Realty owns and manages 3.6 million square feet of industrial properties in the Nashville metro area and Park 840 East 1009 is one of the best located, premier industrial properties - making it ideal for use as a distribution gateway to the Southern U.S.,' said Jeff Palmquist, vice president of leasing and development for Duke Realty in Nashville. 'We are proud that our facilities meet the high standards and requirements for modern, convenient, state-of-the-art facilities that tenants like Starbucks seek and demand.'
Park 840 East 1009 is a Class A facility located east of downtown Nashville and within minutes of I-40, I-24 and I-65. The conveniently located site will serve as a major distribution hub for the southern United States. The building features 36' clear height, as well as a generous amount of dock and drive-in doors and plentiful trailer and automobile parking.
Laura Hart with CBRE represented Starbucks Corporation in its lease. Lonnie Russell with Cushman & Wakefield served as the listing agent for the property.
'By working with long-time, trusted broker partners like Laura and Lonnie, Duke Realty has been able to attract companies to its central Tennessee facilities and secure long-term lease agreements that keep those companies here for some time,' said Palmquist.
In the Nashville metro area, Duke Realty owns and manages 3.6 million square feet of industrial properties.
About Duke Realty
On a nationwide basis, Duke Realty owns, maintains an interest in or has under development approximately 159 million rentable square feet of industrial assets in 20 major U.S. logistics markets. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is a member of the S&P 500. More information about Duke Realty is available at www.dukerealty.com.
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