Selected real estate transactions completed by Duke Real Estate Group and its affiliated companies across the United States.
The following represents selected transactions completed by Duke Real Estate Group and its affiliated companies. Our experience spans retail, office, mixed-use, hospitality, and residential asset classes — with a consistent emphasis on value-add strategies, creative repositioning, and disciplined capital deployment.
The only enclosed mall within a 100-mile radius, anchored by JCPenney, Dillard's, Macy's, and Cinemark. Located near the U.S./Mexico border, the property serves local consumers as well as 1.3 million Mexican nationals. Sponsor focused on tailoring tenant mix, events, and aesthetics to the unique demographic of the extended binational community.
REO purchase of a distressed lifestyle center in central Austin along Interstate 35. Repositioned to accommodate major upscale demographic shifts in the surrounding neighborhoods. Sponsor re-tenanted 100% of GLA with dining, theaters, entertainment, and local best-in-class brands. Currently at 95% occupancy.
Purchased a broken redevelopment lacking quality tenants and meaningful occupancy. Focused on rising-star retail and dining concepts expanding out of Asia into the U.S. market. Property on a ground lease making institutional development difficult. Sponsor re-tenanted 100% of GLA; property now fully occupied. Tenants include 99 Ranch Market, Daiso, 85°C, Kinokuniya, and Starbucks.
Ground-up construction of a premier outdoor outlet mall at the intersection of Interstate 10 and the Transmountain Loop, 10 miles from the U.S./Mexico border. Equal focus on local El Paso consumers (military and government) and Mexican shoppers from Juarez and Chihuahua. Property was ultimately sold to CBL.
Assemblage and conversion of a regional mall into the corporate headquarters for Rackspace (NYSE: RAX), one of the largest cloud computing companies in the United States. Sponsor assembled five separately-owned parcels, developed repositioning plans, acquired the end user, and intermediated a complex public-private partnership transaction.
A 400,000 SF enclosed mall on the Rio Grande River with direct access to the Mexican market via a pedestrian bridge handling over 6 million crossings per year. Sponsor negotiated a municipal incentive package enabling redevelopment of the vacant property into a new outlet center serving both local residents and Mexican shoppers in one of the highest retail sales-per-SF markets in the country.
Purchased a distressed super-regional mall and repositioned as the largest Hispanic-focused retail destination in the United States. Occupancy improved from 75% vacant at acquisition to 35% at sale — with the subsequent buyer completing lease-up along Sponsor's business plan, resulting in financing of over $125 million.
Acquired through note purchase and subsequent foreclosure. Strong anchor performance at a retail intersection generating $400 million in annual sales. Sponsor redeveloped mall core portions to incorporate entertainment and lifestyle components, and sold the asset during the repositioning process.
Sponsor persuaded Bass Pro Shops to extend their lease for 15 years on a triple-net structure — creating standalone anchor value that materially exceeded the purchase price of the entire mall. De-malling strategy converts the property to a power center with land allocated to retail pads, hotel development, and residential uses.
Sponsor acquired an underperforming retail center and an adjacent 400,000 SF vacant warehouse and created, from the ground up, the largest indoor marketplace in Los Angeles. An early application of "urban retail" concepts serving a population without access to quality retail. The project included traditional retail and office components alongside the indoor marketplace.
Managing general partner of a family trust, Sponsor assembled a full city block on La Cienega Boulevard at the Beverly Hills–Los Angeles border, obtaining a variance to construct a 400-room hotel. Sponsor secured design approvals, permits, and construction financing. Upon receipt of a compelling offer mid-construction, the property was sold to a Japanese consortium and subsequently operated as the Nikko Hotel, then La Méridien, and currently as the SLS Hotel.
Acquisition of distressed debt positions on two CBD office towers in New Orleans — 1010 Common (secured by Mass Mutual) and the Amoco Building (secured by Prudential). In each case, Sponsor negotiated deed-in-lieu or completed foreclosure to acquire the real estate, then rehabbed, leased, and sold the properties to private investors.
Acquisition and management of 400,000+ square feet of office buildings in prime West Los Angeles and San Fernando Valley locations. Improvements included conversion of one building from general to medical office, substantially increasing rents. Sponsor managed all properties, provided leasing services, supervised construction and tenant fit-out. Also acquired 1762 Westwood, a 35,000 SF building at 30% occupancy, leased to 80%, and sold to a private investor.
Acquired and managed a 1,500-unit apartment portfolio in central Houston. After a third-party manager failed to maintain financial performance, Sponsor assumed direct management responsibilities, oversaw moderate rehabilitation of two large buildings — primarily common areas and landscaping — repositioned the properties, and subsequently sold after occupancy increases validated the redevelopment thesis.
Acquired a $50 million multi-state portfolio from the Resolution Trust Corporation (RTC) comprising land, golf courses, residential developments, and approximately 200,000 SF of commercial retail space. Commercial space was rehabbed, leased, and sold to private investors. Raw land in Colorado, California, Dallas, and Houston was entitled, platted, and sold to residential homebuilders.