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Duke Realty Gets Out of Retail Real Estate

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Duke Realty, a diversified real estate company that owns industrial, office, health care and retail, announced it's getting out of retail real estate and focusing on its other property areas. In reality, retail has been a very small part of its business in recent years, so this isn't as drastic as it sounds.

The move will eliminate about six jobs, said company spokesman Joel Reuter. The company's retail properties represent only about 1.5 percent of its nationwide portfolio, but it has worked on some high-profile local projects—including West Carmel Marketplace along Michigan Road, and Marketplace at Anson.

Duke has partnered with Grubb & Ellis Harding Dahm & Co. to develop the remainder of the Anson space, but is looking to sell other retail properties it holds across the country, Reuter said.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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