PODS, an acronym for Portable On Demand Storage, delivers its boxes to clients and also handles moving and storage. The company represented itself in negotiating the lease, while Tim Perry, senior leasing representative, worked on Duke Realty's behalf.
"Crossroads VIII provides PODS with a state-of-the-art distribution facility to accommodate its continued growth in central Florida," Doug Irmscher, senior vice president of Duke Realty's regional operations in Orlando, stated in a release. He added that the new location provides quick access to Florida's Turnpike and Interstate 4.
Indianapolis, IN-based Duke Realty has more than four million square feet of industrial and office space in Central Florida, along with 160 acres available for sale or future development. Crossroads VIII contains 187,513 square feet.
Orlando's industrial market posted 12.2% vacancy through the first half of this year, according to Cushman & Wakefield. A total of 1.2 million square feet of leasing activity was recorded, while overall net absorption totaled negative 946,646 square feet.
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