IDI, an industrial real estate company based in Atlanta, has surpassed 2 million square feet in leasing since January of 2013. New leasing activity occurred in eight U.S. markets — including Chicago, Memphis and Cincinnati — this year, with the largest lease in Philadelphia at Middlesex Center Building II totaling 751,450 square feet.
“Our 2013 numbers for leases are promising, with this being one of the strongest quarters in IDI’s history,” said Tim Gunter, IDI’s president and chief executive officer. “More importantly, we believe this marks hard proof of a resurgence in our industry. Every region is seeing activity.”
The Memphis market, which was IDI’s most active market in 2012, continued that trend in the first part of 2013 with two industrial property leases totaling 788,148 square feet. Trane U.S., Inc. renewed its 373,644-square-foot lease at the Stateline H facility while The TJX Companies, Inc. signed a new 414,504-square-foot lease at Chickasaw D.
Currently, IDI has nearly 7 million square feet under development in nine states.