IDI Lands Newegg at WorldConnect at AmeriPlex Building 1

INDIANAPOLIS, December 2, 2013 – Cushman & Wakefield / Summit Realty Group represented national developer Industrial Developments International (IDI) in the lease of 412,808 square feet to Newegg in its newly-constructed Building 1 at 6161 Decatur Boulevard. The property is located in the WorldConnect @ Ameriplex campus.

Summit’s Modern Bulk Team of Andrew Morris SIOR, Jeremy Woods SIOR CCIM, and Andrea Hopper partnered with Doug Armbruster SIOR and Jeremy Kraus of IDI along with Mark Writt and Scott Belfer of CBRE whom exclusively represented in this transaction, as the initial tenant in the first modern bulk speculative building to be constructed in Indianapolis in many years. A leading technology-focused e-retailer, Newegg leased 412,808 sf of the 795,472 sf building. Newegg is a newcomer to the Indianapolis market, choosing this location over several other Midwest markets they considered. The company will be investing over $15 million in the facility and plans to hire approximately 150 new employees in the metro area.

This is the first development and user to engage the City of Indianapolis’ 10-year real estate tax abatement program that helped create WorldConnect @ Ameriplex. The WorldConnect project is the culmination of a vision dating back to 2007 developed in collaboration by Summit, IDI, Holladay Properties and the City of Indianapolis.

IDI saw the vision of a new Indianapolis-based modern bulk distribution park and began execution on its plans in 2012. Current plans call for up to four buildings within the World Connect development by 2015. Doug Armbruster, senior vice president and regional managing director for IDI said, “The IDI WorldConnect development is attracting interest from major corporations to fulfill their primary distribution requirements. Newegg’s decision to choose IDI’s Building 1 seems in large part to be influenced by access to a strong labor pool and the high quality design and building specifications. WorldConnect Building 2, a 462,000 sf facility, is already under construction and has significant interest from major distribution users.

As Andrew Morris explains, “The IDI WorldConnect development is an outstanding alternative to the already well-established distribution markets in the greater Indianapolis area. Access to ample quality labor and a facility designed with flexibility to meet key security and efficiency demands are the key concerns for distributors in the market and IDI has created a fantastic solution.” The Indiana Economic Development Corp. will provide Newegg up to $723,000 in performance-based personal property tax incentives.

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 45 million square feet of investment grade assets, with $2 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 170 million square feet of industrial space and completed more than 700 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 17 million square feet of assets and manages a portfolio of 70 million square feet.

About Cushman & Wakefield l Summit
Summit Realty Group is a premier Midwest commercial real estate firm specializing in office, industrial, multi-family, capital markets, healthcare, retail, land, property management, and corporate services. Headquartered in Indianapolis, Summit is a member of the C&W Alliance – a fully integrated extension of the C&W global platform. The Alliance consists of specially-selected independent firms, who provide clients with extended geographic reach through elite commercial real estate professionals and high quality, comprehensive services. Operating as a unified team, C&W and the Alliance firms integrate the strength of local talent, relationships, and market intelligence with the full capacity of C&W’s resources and platform.

Cushman & Wakefield (C&W) is the world’s largest privately‐held commercial real estate services firm. The company advises and represents clients on all aspects of property occupancy and investment, and has established a preeminent position in the world’s major markets. Within the platform, there are 253 offices in 60 countries globally.