GENEVA, IL—Peacock Engineering Co. LLC has entered long-term lease agreements with Duke Realty Corp. for the 766,898 square feet that it will occupy in the two buildings at 1800 Averill Road here.
Duke is expanding the property by 163,214 square feet to accommodate the needs of the product packaging company that will continue to lease the existing 243,000-square foot building, as well as the new expansion space.
Peacock also leases 720 Center Avenue, a 360,684-square-foot building in Carol Stream, Ill. Both 1800 Averill and 720 Center became Duke Realty-owned and managed properties as part of twoportfolio acquisitions the company made in the fourth quarter of 2011. To accommodate Peacock’s need for additional space, Duke is purchasing a 6.5-acre parcel adjacent to 1800 Averill and will construct a 163,214-square foot, precast concrete warehouse/distribution facility with 28-foot clear height, 22 dock doors, one drive-in door and 42-foot x 48'-foot bay spacing.
DukeSenior Vice President Steve Schnur said in a statement that Peacock is a growing food packaging company that wanted to remain in its existing properties because of the functionality of the space and the recent investments it has made in product handling equipment at the two locations.
Brian Kling with Colliers International represented Peacock in its lease transactions. Susan Bergdoll, vice president of leasing, represented Duke.v