ATLANTA, GA and SAVANNAH, GA--(Marketwired - September 15, 2016) - The Atlanta office of Duke Realty Corporation (NYSE: DRE), a leading nationwide REIT (Real Estate Investment Trust) specializing in the ownership, management and development of quality industrial facilities, announces that it has executed a long-term lease agreement for a 1,435,750-square-foot, build-to-suit distribution facility with Floor & Decor, an Atlanta-based company that operates large, consumer retail stores offering hard-surface flooring, countertops, sinks and related accessories. Construction on the building, which is being built on 90 acres located about 10 miles from the Port of Savannah, is slated to begin in November 2016, with Floor & Decor relocating to its new facility in early 2018.
"Floor & Decor has been a valued customer for several years, and we are excited to continue our partnership with them by delivering a new facility that can help them more efficiently deliver product to their retail stores," said Chris Brown, Senior Vice President, Georgia and Tennessee. "This new facility will be state-of-the-art and incorporate modern features that will help facilitate product storage and distribution."
"The location of this new distribution center will allow us to efficiently manage our import operations and serve our retail outlets in the eastern portion of the United States," said Brian Robbins, EVP Supply Chain, Floor & Decor.
Duke Realty worked closely with the Savannah Economic Development Authority (SEDA) on the transaction, which represents one of the area's largest development projects. "Our city and the port are pleased that Floor & Decor has elected to maintain operations here," said Tripp Tollison, President, SEDA.
Floor & Decor's new facility will be located in Morgan Business Center between I-16 and I-95, with convenient truck and rail access to the Port of Savannah.
Bill Sparks with CBRE represented Floor & Decor in the transaction, while Duke Realty was represented by Brian Sutton.
About Duke Realty
In the Savannah port area, Duke Realty owns 6.4 million square feet of space in 25 buildings, making it the largest industrial/warehouse owner in Savannah. Duke Realty manages its Savannah portfolio out of its Atlanta office located at
On a nationwide basis, Duke Realty Corporation specializes in the ownership, management and development of bulk distribution and medical office real estate. The company owns and operates approximately 137 million rentable square feet in 21 major U.S. metropolitan areas. Duke Realty 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 Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.