Duke Realty Breaking Ground on New HQ
Indianapolis-based Duke Realty Corp. (NYSE: DRE) has broken ground on its new corporate headquarters. The Real Estate Investment Trust is building a four-story mixed-use development, known as River North at Keystone, at the site of the former Champps restaurant near the Fashion Mall in Indy.
The 78,000-square-foot building will also include additional office and restaurant space, along with street-level and underground parking. Duke Realty began clearing the site last month to make way for the new building. Duke plans to move into the new headquarters in late 2019.
“We are extremely excited that construction of our new headquarters is underway and look forward to all the advantages this facility will bring our associates and our company,” said Jim Connor, chief executive officer of Duke Realty. “In addition to enhanced collaboration, connectivity and efficiency, we’ll benefit from working in an easily accessible, modern, single-tenant building that reflects our business and culture and is surrounded by a robust base of amenities.”
Financial details of Duke's investment in the project are not being disclosed, however the Indianapolis City-County Council earlier this year approved nearly $3 million in incentives.
The groundbreaking ceremony featured Connor, Indianapolis Mayor Joe Hogsett, Indiana Economic Development Corp. Vice President of Business Development Jim Staton, and PK Partners Senior VP Wes Podell.