Site Clearing Begins For New Duke Realty HQ

(Rendering courtesy of Duke Realty)

Indianapolis-based Duke Realty Corp. (NYSE: DRE) says demolition is underway on the site that will serve as its next corporate headquarters. The company will build a four-story building on nearly three acres at the former Champps restaurant Keystone at the Crossing location.

The Real Estate Investment Trust is not providing financial details of the project. The Indianapolis City-County Council recently voted to unanimously support nearly $3 million in incentives to Duke Realty.

It will work with Indianapolis-based PK Partners on the project. Plans call for 78,000 square-feet of office and restaurant space with features including outdoor terraces, a patio overlooking a nearby lake and underground and street-level parking. Chief Executive Officer Jim Connor says "we are excited about our new headquarters and the advantages this new facility will bring our associates and our company. By being the sole office tenant in the building, we will be able to showcase our brand, business and successes and ensure a design focused on connectivity and collaboration. Plus our new location will meet associates’ preference for a Northside location with convenient interstate access, and provide them with access to many walkable amenities."

Duke Realty recently reported more than $7.5 billion in assets and has industrial assets in 20 markets throughout the country. The new headquarters is expected to be complete late next year. You can read more by clicking here.