New 90,000-Square Foot Facility Will be Located along Energy Corridor
From the Katy Economic Development Council
(Houston, Texas – April 11, 2008) Duke Realty Corporation (Duke) announced that Det Norske Veritas (DNV), a Norwegian-based engineering company that provides risk management and asset maintenance/enhancement consulting to the energy and maritime industries, has commissioned Duke to develop a 90,000-square foot Class A office building in the Katy submarket for its Houston operations.
The two-story building will be located between Mason Road and Grand Parkway, one-half mile from I-10, or Katy Freeway. DNV’s new Katy-area facility will shorten the commute for their employees and, with the recently completed improvements to I-10, DNV will still be conveniently located to their energy-related customers in the Energy Corridor.
“We are honored to have been chosen to meet Det Norske Veritas’ real estate needs,” said David Hudson, Senior Vice President, Leasing and Development for Duke’s Houston operations. “Our proven track record as a company in developing office properties, specifically those constructed to the client’s exacting specifications, and our reputation for professionalism enabled us to win the trust of DNV. We fully intend to develop a first-class facility and exceed their service expectations.”
“The new office building Duke is developing for Det Norske Veritas will position them in the path of growth, an ideal location for a company focused on serving the Houston energy industry,” said Lance LaCour, President / CEO for the Katy Area Economic Development Council. “This dynamic area also provides DNV with access to a large, skilled employee base living in nearby residential areas. The new retail center to be developed adjacent this facility also should prove attractive to employees.”
Construction of DNV’s new facility, which was designed by Powers Brown Architecture, is expected to begin in June, with completion scheduled for early 2009. Andy Iversen, John Beach, and Jim Cooksey with Jackson Cooksey represented DNV in the transaction. David Hudson represented Duke.
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. The company owns, manages, or has under development more than 142 million rentable square feet in 22 major U.S. cities. Duke, which controls more than 7,700 acres of land for more than 113 million square feet of future development, also provides nationwide real estate solutions through its national development division. Duke Realty Corporation is publicly traded on the NYSE under the symbol DRE and is listed on the S&P MidCap 400 Index. More information about Duke is available on the Internet: www.dukerealty.com.
