IDI's Crossroads B at 100 Percent Occupancy, Company Breaks Ground on Crossroads L

LEGACY Supply Chain Services, Inc. Signs 117,181 SF Lease at Crossroads B

ATLANTA, May 1, 2013 – IDI, a leading full-service industrial real estate company, announced today that LEGACY Supply Chain Services, Inc. has signed a 117,181-square-foot lease in Crossroads Distribution Center Building B in Olive Branch, Miss. LEGACY Supply Chain Services, a third-party logistics provider with a North American distribution footprint and over 35 years of supply chain experience, is securing the space as a distribution center for a manufacturer of popular baseball-related equipment. This lease brings Crossroads B to 100 percent leased and as a result IDI now has plans to break ground on Building L to meet market demand.

“As companies expand into the Memphis market, Crossroads Distribution Center serves as an ideal location to serve potential customers. Building B provides distribution space that features modern functional qualities, energy savings through LEED design, the ability to modify interior space-to-suit and access to local tax incentives,” said Tim Moore, vice president of leasing for IDI Memphis. “As leasing activity at Crossroads Distribution Center and throughout the Memphis market remains strong, we will continue to provide our customers with long term value by breaking ground on Crossroads L.” Crossroads L is slated to be 241,994 square feet and is scheduled to be completed in October 2013.  

Crossroads Distribution Center consists of seven buildings totaling 3,241,011 square feet and is located in Olive Branch, Miss. serving the Memphis market. Fully developed, Crossroads Distribution Center will contain approximately 7 million square feet of Class A distribution buildings. The other tenant in Building B is Millstone Medical Outsourcing with 150,662 square feet of distribution space.

Ken Parker and Mike Demperio of Fischer & Company represented LEGACY Supply Chain Services, Inc. and Tim Moore represented IDI in the lease.

IDI has nearly 7 million square feet under development in nine states and has been the first to market with new inventory space in several cities, taking the lead as the industry moves out of the recession.

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. Valued at $1.5 billion, IDI has ownership or interests in 28 million square feet of investment grade 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 149 million square feet of industrial space and completed more than 591 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 16 million square feet of assets and the company manages a portfolio of 53 million square feet.

Presseanfragen

Nordamerika
Reed Barrickman
+1.404.479.1626
reed.barrickman@idigazeley.com

Europa
Ged Brumby
Smithfield Consultants
+44 (0)20 7903 0674
gbrumby@smithfieldgroup.com

Rob Yates
Smithfield Consultants
+44 (0)20 7903 0625
ryates@smithfieldgroup.com