Duke Buys Truck Terminal With Lots of Land
For Duke Realty, sometimes big things potentially come in small packages. We just learned that Duke purchased 2021 S 51st Ave, an 84k SF truck terminal 100% leased by YRC Freight, for an undisclosed sum. Even though YRC is there for some time, Duke's Jason Sturman (middle right at a 2011 event) says the investment isn't so much about the building as it's about the land. A small facility that sits on 33 acres of prime industrial land, and can ultimately accommodate a 600k SF-plus facility. “We'll keep it as a truck terminal as long as there is demand for it,” he says, especially given the acreage provides a huge swath of trailer parking. Duke also is hunting for more industrial product to buy in Phoenix, especially since Jason says the spec market has overheated in recent months.
