Freeport XI and XII will deliver in mid-February 2005, anestimated $10-million project. With 90% occupancy in its Coppellpark stock, Jeff Turner, senior vice president of Duke's Dallasgroup, tells GlobeSt.com that "it makes sense for us to take thatleasing risk. We look for an uptick in the market in the firstquarter. We can sense that coming. Hopefully, our timing will beright." The Freeport North expansion will let Duke with 30 acres todevelop in the park.

The newest development is classified light industrial in a nicheplay for tenants needing 10,000 sf to 50,000 sf and 15% to 50%office finish-outs versus the norm of 5% to 10% found in mostindustrial product. Turner says rents will range from $4.50 per sfto $6.50 per sf and TI's aligned with the office carve-out, fallingbetween $7 per sf to $15 per sf. "It's a nice little niche for usto offer smaller spaces at a competitive lease rate," he says. Thedevelopment breakdown is a 70,000-sf service center for FreeportXII and 140,000-sf, mid-size warehouse/distribution building asFreeport XI. Both have 24-foot clear heights, dock-high anddrive-in loading.

Turner says there are no deals in hand, but the leasing team'schasing "two or three" prospects in its pre-leasing push. Bob Rice,the Indianapolis-based Duke's vice president of leasing in Dallas,leads the team, which includes Curt Hefner and Ben Appleby. DukeConstruction Co. is the general contractor.