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Duke Realty Gets Full-Building Commitment from Rexel USA
The Seattle office of Duke Realty Corporation inked a lease agreement with Rexel USA, the U.S. division of Rexel Group, one of the world’s largest electrical distributors, for its facility at 1510 Puyallup St. The REIT announced the start of the 190,042-square-foot speculative development in Sumner, WA in October 2020. Completed in 2021, it’s now 100% leased to Rexel.
“Demand for quality space in the Kent Valley submarket continues to be strong as evidenced by a less than 5% vacancy rate,” said Mark Hosfeld, VP and market leader for Duke Realty’s Seattle operations. “It’s a submarket with limited first-generation logistics space and our investment in redeveloping the site provides Rexel USA with one of the only modern distribution facilities available with close proximity to ports and major thoroughfares.”
CBRE’s Zac Snedeker represented Rexel in lease negotiations. Duke Realty was represented by Wilma Warshak at WAREA and Hosfeld.
- ◦Lease
