Last In, Last Out
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|With industrial sales and leasing lagging throughout the country, IDI has seen a bright spot with the recent $25M sale of a 525k SF warehouse in Aurora.|
|We stopped by the firm's Itasca office and snapped Tom George,Jeffrey Lanaghan, Jeffrey Smith, and Laura Varga, part of the company's 10-person team. They tell us the Aurora sale (closed earlier this month to building occupier Freudenberg Household Products at 2188 Diehl Rd.) includes the development of a 101k SF expansion. Tom says investment sales of industrial properties have held relatively steady, although empty building sales and leasing are down. The company's owned portfolio in Chicago is about 7.5M SF. The Itasca office is also responsible for the Ontario, Canada, and Salt Lake City markets. (That must mean offering clients a drink is forbidden in some meetings, but mandatory in others.)|
|Green development has been one of IDI's major goals since 2008. The firm developed the first LEED spec building in the Chicago area in Bolingbrook, and now has 1.4M SF of LEED buildings. IDI is now working on a park in Antioch where 300 trees will be removed for construction, but 3000 planted in their place. They anticipate industrial recovery will occur steadily in markets that weren't overbuilt before the recession, and are hoping to see build-to-suit activity in the coming year.|