Duke Realty Opens Philly Area Office

CONSHOHOCKEN, PA—Duke Realty Corporation, a nationwide REIT with more than nine million square feet of industrial properties in the northeastern United States, has opened a regional office at Eight Tower Bridge, 161 Washington Street, Suite 1020 in Conshohocken, PA.

The office is led by Jeff Palmquist, senior vice president, Northeast Region, a long-tenured Duke Realty associate with experience in leasing, acquisitions, joint ventures and consulting. 

Palmquist is responsible for the company's growing portfolio of industrial properties in the Northeast, which includes properties in the Lehigh Valley, Central Pennsylvania and along the I-81 corridor; Northern and Southern New Jersey; Baltimore, Maryland; Northern Virginia; and Delaware. In addition to overseeing the leasing and management of Duke Realty's existing properties, he also will work to identify development and acquisition opportunities, new land positions and prospects for build-to-suit development.

“We anticipate that this area will be an ongoing growth market for us in the future,” says Palmquist. “We have acquired quality properties throughout the region and have demonstrated our construction capabilities with the development of two buildings in New Jersey, a 1.1 million-square-foot distribution facility in Delaware and our in-progress 1.1 million-square-foot distribution facility at 33 Logistics Park Building One at Chrin Commerce Centre located on the east side of the Lehigh Valley. With the opening of this office, we will have local people on the ground ready to build stronger relationships with brokers, as well as existing and potential tenants. We are excited to be here and anxious to further expand Duke Realty's presence in this part of the country.”

Duke Realty's entry into the Northeast began in 2006 when it acquired a 183-acre former General Motors plant site in Baltimore, MD. Since that acquisition, Duke has developed more than 1.8 million square feet of class A distribution facilities. In 2012, the company constructed a one million-square-foot, build-to-suit distribution center in Delaware for a leading e-commerce company. In 2013, the company acquired six buildings totaling 3.7 million square feet in Pennsylvania and New Jersey. In 2014, Duke Realty began development on another General Motors site in Linden, NJ, delivering two buildings totaling 638,396 square feet. Most recently, as reported by GlobeSt.com, the company announced the spec development of a 1.1 million-square-foot building on a 63-acre parcel on the east side of the Lehigh Valley.

A 20-year associate of Duke Realty, Palmquist previously was senior vice president of Duke Realty's Nashville operations for ten years. He joined Duke Realty in 1995 as vice president of leasing after 12 years in sales and marketing for other companies.

Other members of Duke Realty's Northeast team include Matthew Bremner, vice president of leasing for the Northeast. A Duke Realty associate for more than 10 years, Bremner has already represented the company on several large transactions throughout the Northeast Region. Construction team members include David Jennings, project manager; Mike Davis, development services manager, and Brian Nussbaum, preconstruction manager.