IDI Announces Start of Construction on Two Buildings in South Florida

Miramar Centre Building B and Davie Business Center Building A to deliver by December 2013

ATLANTA, June 17, 2013 – IDI, a leading full-service industrial real estate company, announced today that it has started construction on two buildings in South Florida. Miramar Centre Building B is scheduled to be 300,428 square feet and will be located in the 77-acre business park located in Miramar, Fla. Davie Business Center Building A is slated to be 122,175 square feet and will be located on the 42-acre business park located in Davie, Fla. Both buildings will serve the Broward County and South Florida markets.

“These buildings mark two very different milestones for IDI and the South Florida market,” said Scott Helms, Senior Vice President and Regional Managing Director for IDI’s Fort Lauderdale Office. “Miramar B completes a business park that has been an outstanding value for IDI, our tenants and the community, while Davie A signals the sustained growth of the market and an opportunity to continue to serve our customers with another high-quality development expected by our clients.”

Miramar Centre Building B will be the final building in the Miramar Centre Business Park. When complete, the park will total 1,102,985 square feet. The building is designed to LEED Silver Certification standards and is located at the intersection of Dykes Road and Miramar Parkway with frontage along I-75. Construction of Building B comes on the heels of AeroTurbine relocating its corporate headquarters to Miramar Centre Building A in August 2012. The company’s 264,000-square-foot lease marked the largest industrial spec development lease to be completed in Broward County in the past five years.

Davie Business Center Building A will be the first building within the IDI-owned Davie Business Center. The total park is scheduled to be 705,000 square feet when fully developed and is located south of I-595 and directly west of the Florida Turnpike, in close proximity to the Fort Lauderdale Airport and Port Everglades. Building A is also designed to LEED Silver Certification standards.

“Davie A continues our promise to build long-term value in all that we do,” added Helms. “It will be one of the first high-quality distribution centers in the town and will benefit IDI, tenants and the Town of Davie. Its location directly across from Broward College and NOVA University, coupled with the building’s amenities, makes it a premier development and we anticipate a high level of interest.”

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 real estate industry continues to move out of the recession.

About IDI
With nearly seven 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.