More than 3.3 Million SF Leased YTD across the U.S. ATLANTA, GA – IDI marked the mid-point of 2011 with strong leasing performance in three key markets, and continued success in several others.
From January to June, IDI tallied leases in excess of 3.3 million square feet in seven of the company’s eight U.S. markets. Disposition activity continued with 722,297 square feet of space sold in the first six months of the year.
Leasing activity was most prevalent in Chicago with new leases and renewals totaling 812,722 square feet. Ozburn-Hessey Logistics and hhgregg® signed new leases for 269,590 square feet at Bolingbrook Corporate Center (top left photo) and 247,360 square feet at Prairie Point West (lower right photo), respectively.
The Chicago office also signed a 283,754-square-foot renewal at IDI’s Southgate Commerce Center (lower left photo), and an additional 37,524 square feet was leased under third-party arrangements.
In Dallas, IDI signed six new leases and one expansion for a total of 568,707 square feet. Significant leases were signed at IDI’s Skyline Trade Center (middle right photo) (262,440 SF) and DFW Trade Center (168,828 SF). 178,200 square feet was leased under third-party agreements.
Finally, in the Memphis market, a total of 446,195 square feet was leased, including a new 390,620-square-foot lease in Nashville’s Wilson Commerce Center (middle left photo). 541,374 square feet was also signed in third-party leases.
Other IDI markets performed well in the first-half of the year, with a total of 189,350 square feet leased and 343,350 square feet in third-party leases signed in Atlanta for a total of 532,700 square feet.
The Los Angeles market leased 147,997 square feet to CEVA Logistics, Inc., the Cincinnati office signed a lease with Red Bull for 27,390 square feet and three leases totaling 81,133 square feet were signed in Ft. Lauderdale.
“Our 2011 numbers show continuing signs of recovery in the industrial market and we are encouraged by the overall increase in industrial activity and absorption globally,” said Tim Gunter (top right photo), president and CEO of IDI.
He added, “We saw a lot of new activity in the first half of this year, where last year was focused on renewals and consolidation. The type of activity we’re seeing is especially good news for investment as we’re seeing the financial markets open up to the possibility of new development again.”
IDI is a real estate company focused exclusively on industrial property. The company, headquartered in Atlanta, Georgia, provides development, investment and property management and leasing services supported by eight, strategically located U.S. market offices.
Valued at $1.8 billion, IDI is among the largest privately-held logistics property companies in North America with ownership or interests in 33 million square feet of investment grade assets.
Since the company’s founding in 1989, IDI has built a reputation for delivering superior quality properties and service.
To date, IDI has developed and acquired 134 million square feet of industrial space and completed more than 500 industrial facilities in the U.S., Canada and Mexico.
The company’s investment portfolio, focused on building long-term value, holds more than 22 million square feet of assets and the company manages a portfolio of 50 million square feet.
Contacts:
Kim Hardcastle, Jackson Spalding for IDI , 404-214-0693
Charlotte Marie Sturtz, Jackson Spalding for IDI, 404-214-3555
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