Cincinnati Market Activity Continues as IDI Fully Leases Monroe Logistics Center, Starts Construction on Park North Building 4

ATLANTA, June 7, 2013 – IDI, a leading full-service industrial real estate company, announced today that Monroe Logistics Center’s Building B, the second building in the Monroe Logistics Center (Butler County), is 100 percent leased. Additionally, IDI has broken ground on the construction of the Gateway Boulevard Extension and site work for the next four building pads at Park North. Both of these developments are located in Monroe, Ohio and serve the Cincinnati market.

Blue Buffalo, a premium pet food company, is the latest tenant to Monroe Logistics Center Building B. The company signed a 390,766-square-foot lease and marks the business’ arrival to the Cincinnati market. Ball Metal Beverage is the other tenant in Monroe Logistics Center B and occupies 162,928 square feet. Other tenants located in the 1,274,699-square-foot Monroe Logistics Center park include Hayneedle and Appvion, Inc. The property benefits from a 100 percent, 15-year tax abatement on improvements. Tom Sims and Mike Lowe of CBRE represented Blue Buffalo and John Gartner with Colliers and Doug Armbruster with IDI represented IDI in the deal.

“As with all IDI tenants, we strive to building long-term value for their business and Monroe Logistics Center provides the quality of building, size and location needed to do this,” said Doug Armbruster, IDI senior vice president and regional managing director for the Cincinnati market. “The shell of Monroe B was just completed in December and it is already 100 percent leased. IDI is currently grading Phase II of Park North, continuing our investment in an expanding market."

IDI acquired the former Corridor 75 Premier Logistics Park in Monroe, Ohio (Warren County), through foreclosure, of 300 acres of land and an existing 651,592-square-foot building. IDI renamed the development Park North at Monroe, consistent with its park branding strategy in the Cincinnati marketplace.

IDI is planning to construct the third building at Park North. Building 4 is planned as a 649,116-square-foot facility scheduled to be delivered in early 2014. IDI’s plan for Park North is to eventually develop up to a total of 4.1 million square feet of logistics buildings on the property, ranging in size from 150,000 square feet to more than 1.8 million square feet.

Park North at Monroe is located at the intersection of Interstate 63 and Interstate 75 at Ohio’s first single-point urban interchange, a design that allows traffic to move more efficiently and safely through a complex roadway. Additionally, future tenants of the park will receive the benefit of a 15-year, 100 percent tax abatement on the real estate improvements.

To date, IDI has developed and acquired 18 million square feet across 12 business parks in the Cincinnati market, which covers Cincinnati, Louisville and Northern Kentucky, as well as Indianapolis, Indiana. IDI has nearly seven million square feet under development in nine states and has been the first to market with new inventory space in several cities, taking the lead as the industry moves out of the recession.

About IDI
With nearly 7 million square feet currently under development, IDI is one of the largest privately-held real estate companies in North America focused exclusively on industrial property. The company, headquartered in Atlanta, Georgia, provides development, investments, property management and leasing services to corporations, property owners, investors, financial institutions and real estate service providers. IDI has ownership or interests in 31 million square feet of investment grade assets, with $1.4 billion in company-owned and joint venture 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 151.1 million square feet of industrial space and completed more than 595 industrial facilities in the U.S., Canada and Mexico. The company’s joint-venture investment portfolio, focused on building long-term value, holds more than 16 million square feet of assets and manages a portfolio of 55 million square feet.