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Thursday, September 09, 2010  

Office


5/21/2009

Duke, CBRE joint venture adds three fully-leased properties


A joint venture between CB Richard Ellis Realty Trust and Duke Realty Corp. has acquired single-tenant buildings in Houston, Texas, Tampa, Fla., and Orlando, Fla. for a combined $41.05 million.

The joint venture, announced in 2008, purchased two office buildings and a warehouse as part of its plans to plans to acquire up to $800 million of newly developed build-to-suit projects over a three-year period.

In suburban Houston, the company purchased a two-story building at 22535 Colonial Parkway, on the western edge of the Energy Corridor. The 89,750-square-foot building is registered with the U.S. Green Building Council and features large open floor plates and an on-site jogging trail.

The building is fully leased to Det Norske Veritas, a Norway-based risk management company with 300 offices in 100 countries.

The second structure, a three-story office building adjacent to Walt Disney World near Orlando, Fla., also is registered with the U.S. Green Building Council. The 100,924 square foot building at 1390 Celebration Blvd. is leased to Disney Vacation Development, a Disney-owned entity that owns and manages Disney's vacation timeshare operations.

Fairfield Distribution Center IX, a high-cube warehouse facility in Tampa, Fla., was the third property acquired in the deal. Fully leased to the information protection company Iron Mountain, the 136,212-square-foot property is located at 4543-4561 Oak Fair Blvd. near the Interstate 75 and I-4 corridors.

Address: 22535 Colonial Parkway, Katy, Texas
- 1390 Celebration Blvd., Celebration, Fla.
- 4543-4561 Oak Fair Blvd., Tampa, Fla.

Size: 326,886 square feet

Filed Under: Office

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