IDI Renews 295,620-Square-Foot Lease at 2001 Baseline Road
Leasing Success along I-88 Corridor Continues
Chicago, December 07, 2011– IDI, a leading full-service industrial real estate company based in Atlanta, has signed a 295,620-square-foot lease renewal with a third party logistics provider at 2001 Baseline Road. This renewal is the fifth lease IDI has signed along the I-88 corridor in 2011.
The tenant, who originally selected the location in April 2007, uses the building for staging, light assembly and quality control of parts for the company’s U.S. operations. The Baseline Road facility is located in Fox Valley in Montgomery, IL, approximately 45 miles west of the central Chicago business district. Eby-Brown, a leading convenience store supplier and wholesale food distributor, also leases 290,000 square feet at 2001 Baseline Road.
“This company is a strong tenant for IDI,” said Jeff Lanaghan, vice president of leasing and development in IDI’s Chicago office. “Their renewal at 2001 Baseline Road will allow them to continue to enjoy the advantages of being located on the I-88 corridor, which include the availability of a quality labor force and proximity to the interstate system.”
Matthew Stauber of Colliers International represented the tenant and Keith Stauber and Steve Ostrowski with Jones Lang LaSalle were listing agents on the property. Jeff Lanaghan represented IDI in the lease transaction.
IDI is a privately-held real estate company 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 $1.8 billion, IDI is one of the largest privately-held logistics property companies in North America with ownership or interests in 31 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 138 million square feet of industrial space and completed more than 568 industrial facilities in the U.S., Canada and Mexico. The company’s investment portfolio, focused on building long-term value, holds more than 22 million square feet of assets and the company manages a portfolio of 50 million square feet.