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Duke Buys Truck Terminal With Lots of Land

Phoenix Industrial
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.