ATLANTA, Jan. 28, 2014 /PRNewswire/ -- IDI, a leading full-service industrial real estate company based in Atlanta, announced today that 2013 was the company's strongest leasing year since 2000. The year saw 15,374,113 total square feet in leases, a portfolio increase from 84 to 187 buildings, 6,623,434 square feet in development starts and seven buildings receiving LEED certification. The news comes on the heels of IDI's acquisition by Brookfield Property Partners and merger with Verde Realty.
"The success of 2013 is truly a testament to the hard work of our team members," said Tim Gunter, IDI's President and Chief Executive Officer. "While last year was historic, I am excited about what our future has in store. Our new ownership provides us the opportunity to further expand our presence, while strengthening our asset base and balance sheet."
The year saw 15,374,113 total square feet in leases across IDI's market offices, which each serve a number of major markets. The Memphis office was the most active for new leases in 2013 with 2,253,486 square feet. The Atlanta office and the Texas Border region (including El Paso, Laredo and McAllen) also leased more than two million in total square feet with 2,145,674 and 2,050,910 square feet, respectively. The Chicago office also performed well, leasing just under two million square feet, and Cincinnati inked over 1.6 million square feet across the markets it serves. The Philadelphia office saw the largest single lease in 2013 at 751,450 square feet to tenant Williams-Sonoma.
Nationwide development starts for the year totaled 6,623,434 square feet with 5,504,120 square feet delivering before the end of 2013. The Houston office saw the most development starts with four followed by South Florida and Memphis with three each. Other cities for new developments include: Chicago (2), Indianapolis (1), Los Angeles (1), Cincinnati (2), and Brunswick, N.J. (1). The largest development start, Crossroads Distribution Center H located in Olive Branch, Miss., totaled 861,252 square feet. Since mid-2011, IDI has started or delivered more than 12 million square feet of development and has been the first to market with new inventory space in several cities.
Seven of IDI's properties were also LEED certified in 2013. In all, 3,560,574 square feet received certification – the largest number in a single year in IDI's history. The buildings include:
- Pharmavite build-to-suit – Opelika, Ala.
- Miramar Centre Business Park, Building A – Miramar, Fla.
- Riverside Business Center, Building A – Lithia Springs, Ga.
- Mitsubishi build-to-suit – Suwanee, Ga.
- Crossroads Distribution Center, Buildings B, E and G – Olive Branch, Miss.
"We will, as we have over our 25-year history, continue to do business the IDI way and stick to our mission statement, as it has kept us consistent through peaks and valleys," said Gunter. "In short, we will continue to build long-term value for our clients, our team members, our communities and our industry by striving for superior quality in all that we do."
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 48 million square feet of investment grade assets, with $2.9 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 67 million square feet. For more information on IDI, visit www.idi.com. You can also follow us on Facebook and Twitter.
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