Park North at Monroe Adds Tenant, IDI Plans New Construction

Cornerstone Services, Inc.'s 350,758-square-foot lease in Building 2 Serves Growing E-Commerce Operations

ATLANTA, October 9, 2013 – IDI, a leading full-service industrial real estate company, announced today that it has secured a 350,758-square-foot lease in Building 2 at Park North at Monroe in the Northwest Cincinnati submarket. Cornerstone Services, Inc., which operates e-commerce sites for high quality lifestyle brands, is relocating from a temporary space in another municipality. The space at Park North at Monroe is necessary to accommodate their rapid growth and allow them greater operational efficiencies.

“Long-term value for clients like Cornerstone Services, Inc. is the foundation of IDI,” said Jeremy Kraus, vice president of leasing for IDI. “We are proud of the partnership we’ve had with this client in the past and look forward to growing with them as Park North expands. This business park has expansive development plans for the future, including 649,000 square feet currently under construction to be delivered early in 2014."

Park North at Monroe is a 440-acre master-planned distribution campus capable of accommodating more than 4 million square feet in future development. The Home Depot Rapid Deployment Center is a 657,600-square-foot facility in the Park. Park North at Monroe Building 2 has 300,757 square feet still available for immediate occupancy.

“This is our third major transaction in the past 12 months with IDI’s Cincinnati office, for a total of over 950,000 square feet in deals. The high quality product that they develop and quality of service that they provide to their tenants definitely attests to the longevity of our partnership,” said Mike Lowe, First Vice President with CBRE, who represented Cornerstone Services, Inc. in the deal.

“Building 2 provides Cornerstone with additional clear height, wider column spacing and the ability to accommodate heavy trailer traffic. The property also comes with a 100 percent tax abatement for the next 11 years.” Tim Schenke with CBRE also represented Cornerstone Services, Inc. in the deal. IDI was represented by Jeremy Kraus.

Since the market began improving from the recession in mid-2011, IDI has started or delivered more than 12 million square feet of development in 11 states and has been the first to market with new inventory space in several cities.

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.