Duke Realty Corporation (NYSE:DRE) announced today that Citigroup North America, a leading worldwide financial services provider, has signed a 176,000 square foot, 15-year lease at The Landings of Blue Ash in the northeast suburb of Cincinnati, Ohio.
"This is an exciting deal for Duke and the Cincinnati office," said Dan Ruh, Duke's Senior Vice President of Cincinnati Operations. "We're pleased to have secured a tenant for the entire first building at The Landings prior to the building's completion. This deal will continue our proven success in the Cincinnati market of developing premier office destinations for major national companies."
Citigroup will occupy 100 percent of the 176,000 square foot Landings I. In addition, Citigroup plans to occupy 18,000 square feet, or 10 percent, of Landings II with an option to expand. Citigroup is expected to employ more than 1,000 people in Blue Ash.
Duke is currently in the final stages of construction of Landings I and Citigroup plans to occupy the space in October. Construction will commence in August on Landings II with completion slated for May 2007. Duke owns approximately 1.5 million square feet in the Blue Ash submarket that is 93 percent leased. The Landings will ultimately include three buildings totaling 525,000 square feet.
About Duke Realty Corporation
Duke Realty Corporation specializes in the ownership, construction, development, leasing and management of office, industrial, medical office and retail real estate. It is the largest publicly-traded, vertically integrated office/industrial real estate company in the United States. Duke's properties encompass approximately 114 million rentable square feet that are leased by more than 3,600 tenants, and more than 6,300 acres of undeveloped land that can support over 90 million square feet of additional development. Duke provides a full range of services in-house, backs them with more than 30 years experience, and delivers valuable real estate solutions to satisfied customers across the nation. Duke common stock is listed on the New York Stock Exchange under the symbol: DRE. Visit Duke on the web at www.dukerealty.com.
Citigroup, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney and Banamex. Additional information may be found at www.citigroup.com.