The big difference between Duke Realty and other large, mixed-use
REITS, according to Bob Fessler, Executive Vice President, Southeast
Region for Duke Realty, is the firm's vertical integration. "We
have in house all the functions necessary to deliver a successful
project -- leasing, property management, finance accounting, marketing,
legal, and construction," he says. When we sit at the table with
a client, we are all speaking with one voice and that is very powerful."
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Bob Fessler, Executive Vice President,
Southeast Region for Duke Realty |
Del Monte Foods was sold on that power when they hired Duke to
build a 687,000-sq.-ft. (63,822-sq.-m.) warehouse distribution
center in Dallas, Texas, with the ability to add about 200,000
sq. ft. (18,580 sq. m.) in the future.
"In addition to a huge warehouse space, Del
Monte wanted 250 trailer parking spaces and dual rail service,"
says Fessler. "Once we received the RFP, our leasing and construction
team in Dallas swung into full action, located a site, and did
all the due diligence on the location in-house. We also have a
large line of credit because we are a big public company, so we
could easily finance this building. So, from Del Monte's eyes,
there was no risk in construction and no risk in the site because
our experts analyzed it and no risk in financing the building
because we are a large player with a secure line of credit. And,
because we have 30 years of experience in constructing these large
buildings under a tight time frame, we committed them to a delivery
date that others could not commit to."