IDI Closes on 42-Acre Site at Davie Business Center
Developer announces construction of 705,000 square feet to begin early 2013
FORT LAUDERDALE, June 14, 2012– IDI, a leading full-service industrial real estate company, announced the purchase of 42.3 acres of land at the Davie Business Center in the Central Broward submarket of Fort Lauderdale, with plans to develop four buildings on the property. This is one of the few remaining industrial sites available in Broward County and will be developed into 705,000 square feet of warehouse and industrial space.
IDI’s plans for Davie Business Center include 705,000 square feet spread across four buildings ranging in size from 167,175 square feet to 237,850 square feet. Construction is scheduled to begin in the first quarter of 2013. The newly acquired land, located at Southwest 56th Avenue and Southwest 36th Street, provides an ideal location for development, boasting proximity to I-575 and the Fort Lauderdale/Hollywood Airport.
“IDI has a long history of providing class-A industrial space to the South Florida market. We are excited to deliver new, IDI-quality property to Central Broward,” said Scott Helms, senior vice president and regional development officer for IDI’s Fort Lauderdale office. “With the availability of industrial space diminishing, IDI is thrilled about the opportunity to develop what may be one of the last major industrial parks in the area.”
To date, IDI has developed more than 4.6 million square feet across eight business parks in South Florida, and the company has developed 5.4 million square feet across the state.
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.