IDI Announces 751,450 SF Lease at Middlesex Center

Williams-Sonoma to be sole tenant at Middlesex Center II, also occupies 1,351,200 square feet in Middlesex Center I

ATLANTA, April 16, 2013 – IDI, a leading full-service industrial real estate company, announced today that Williams-Sonoma has signed a 751,450-square-foot lease at Middlesex Center II. Williams-Sonoma, a specialty retailer of high quality products for the home, will use this space for warehousing, repair, assembly, storage and distribution of consumer products.

“As one of the largest industrial facilities under construction in the state, Middlesex Center II marked the resurgence of inventory building development in New Jersey,” said Frank Petkunas, Senior Vice President and Regional Managing Director for IDI’s Philadelphia market office. “Combined with the amenities of the building, the location truly sets Middlesex Center apart from other options in this market. It is in close proximity to the ports of New Jersey and New York, located in one of the most populous areas in U.S., and is adjacent to Williams-Sonoma’s existing facility in Middlesex Center I. We pride ourselves in building long-term value for all clients by striving for superior quality in all that we do and are confident we are providing a Class A facility that offers excellent logistics solutions for Williams-Sonoma.” 

Williams-Sonoma expands its Mid-Atlantic market presence with this lease. Currently, the company is also the sole tenant in IDI’s 1,351,200-square-foot Middlesex Center I building. Construction on Middlesex Center II started in December 2012 and is expected to be completed in July 2013. Middlesex Center is located on 206 acres at Exit 8A of the New Jersey Turnpike and includes plans for a 450,000-square-foot Middlesex Center III building with construction slated to start in 2013.

Paul Torosian of Cushman & Wakefield was the landlord listing agent and Frank Petkunas represented IDI in the deal.

IDI has nearly 7 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 36 million square feet of investment grade assets, with $1.8 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 149 million square feet of industrial space and completed more than 589 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 31 million square feet of assets and the company manages a portfolio of 55 million square feet.

About Williams-Sonoma
Williams-Sonoma, Inc. is a specialty retailer of high-quality products for the home. These products, representing eight distinct merchandise strategies – Williams-Sonoma (cookware and wedding registry), Pottery Barn (furniture and wedding registry), Pottery Barn Kids (kids’ furniture and baby registry), PBteen (girls’ bedding and boys’ bedding), West Elm (modern furniture and room décor), Williams-Sonoma Home (luxury furniture and decorative accessories), Rejuvenation (lighting and hardware) and Mark and Graham (personalized gifts and gifts for the home) – are marketed through seven e-commerce websites, eight direct mail catalogs and 584 stores. Williams-Sonoma, Inc. currently operates in the United States and Canada, offers international shipping to customers worldwide, and franchises its brands in Bahrain, the Kingdom of Saudi Arabia, Kuwait, and the United Arab Emirates.