New Jersey and Pennsylvania are key markets in Duke Realty’s industrial growth
A leading pure-play industrial real estate company, Duke Realty has focused on growing its portfolio in the top-tier logistics markets in the United States. In keeping with that strategy, the company has concentrated its efforts in Northern New Jersey and the Lehigh Valley in Pennsylvania – two areas that have consistently been at the top of the list of locations for companies’ warehouse and distribution operations. Both markets continue to be the most in-demand distribution hubs because of their unrivaled access to a large segment of the U.S. population, specifically the densely populated New York City metropolitan area. In addition, both Northern New Jersey and the Lehigh Valley are well served by the interstate system, putting them within a day’s drive of more than 40 percent of the population of the United States and Canada. As a result, these markets have been two of the healthiest in the country over the last few years with historically low vacancy rates and growing rents.In Pennsylvania, Duke Realty’s main developments include 33 Logistics Park, a three-building, 2.7 million s/f industrial park in Easton, and Central Logistics Park in Myerstown. In 33 Logistics Park, the first two buildings Duke Realty delivered are 100 percent leased.