New Leases Total Nearly 2.1M SFATLANTA, GA, July 13, 2009 – IDI, a full-service industrial real estate company, announced today that it closed leases totaling 2.8 million square feet in Q1 and Q2, including new leases, lease renewals and third-party leases. New leases totaled almost 2.1 million square feet.
“Thanks to our strategically located facilities in top-tier markets and extraordinary team leasing efforts, IDI experienced strong leasing activity despite the general slowdown in the economy,” said Tim Gunter, (top right photo) president and CEO of IDI.
“IDI was able to meet the space needs of several prominent companies in the first and second quarters, and we continue to be well-positioned with state-of-the-art facilities and land holdings in key markets to respond quickly to tenant demand throughout the remainder of 2009.”
Through the first half of 2009, IDI’s busiest markets were: Memphis with four leases totaling 905,568 square feet; Cincinnati with two leases totaling 688,238 square feet; Chicago with four leases totaling 485,265 square feet; and Dallas with six leases totaling 343,423 square feet.
In the first two quarters of 2009, IDI closed ten renewals totaling 752,293 square feet, including: 241,384 square feet with a medical company at DFW Trade Center north of Dallas; 167,600 square feet with Priority Fulfillment Services and 109,575 square feet with Smiths Medical, both at Airways Distribution Center near Memphis; 53,660 square feet with Arjo, Inc. at Turnberry VIB in Chicago and 67,200 square feet with Datapath Inc. at Shawnee Ridge 7 in Atlanta.
“With our track record of leasing success and the increasing diversification of our business, IDI is continuing to build on an already solid foundation,” Gunter added.
In the first two quarters of 2009, IDI closed ten renewals totaling 752,293 square feet, including: 241,384 square feet with a medical company at DFW Trade Center north of Dallas; 167,600 square feet with Priority Fulfillment Services and 109,575 square feet with Smiths Medical, both at Airways Distribution Center near Memphis; 53,660 square feet with Arjo, Inc. at Turnberry VIB in Chicago and 67,200 square feet with Datapath Inc. at Shawnee Ridge 7 in Atlanta.
“With our track record of leasing success and the increasing diversification of our business, IDI is continuing to build on an already solid foundation,” Gunter added.
“Earlier this year, IDI created an Investment Management division to provide fee-based management to North American and European investors, and we also plan to be active in our acquisition of industrial properties in top-tier markets across North America throughout the remainder of the year.”IDI’s two largest deals for new space were a 678,363-square-foot lease with a leading cosmetics company at Park South at Richwood (top left photo) near Cincinnati and a 504,104-square-foot lease with a third-party logistics company at Crossroads Distribution Center south (bottom right photo) of Memphis.
Contacts:
Kim Hardcastle, Jackson Spalding for IDI 404-214-0693, khardcastle@jacksonspalding.com
Charlotte Marie DuPre, Jackson Spalding for IDI, 404-214-3555, cdupre@jacksonspalding.com
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