IDI Leases 220,000 SF in Northern Cincinnati to Appleton Papers Inc.
Monroe Logistics Center Building A Now Fully Leased'
CINCINNATI, July 20, 2010 – IDI, a leading full-service industrial real estate company, has closed a 219,648-square-foot lease with Appleton Papers Inc., the world’s largest manufacturer of carbonless paper and a leading producer of thermal and security papers. Appleton will occupy space in Monroe Logistics Center Building A in October, 2010, bringing the building to full occupancy.
Monroe Logistics Center is located three miles from Interstate 75 in Monroe, Ohio, just north of Cincinnati. The building, which has been submitted for LEED certification, has many features unique in the Cincinnati industrial marketplace, including skylights, 36-foot clear-height ceilings, extra wide 60-foot bays, generous employee and trailer parking and early suppression fast response (ESFR) sprinklers. Monroe Logistics Center Building A is located at 1025 Logistics Way and qualifies for a 15-year, 100% real estate tax abatement, which Appleton cited as a reason they chose the space. Hayneedle, a leading internet retailer, occupies the remaining 501,357 square feet of the building.
“As Appleton relocates from northern Kentucky, we are glad they have found a home at Monroe Logistics Center to serve their growing distribution needs,” said Doug Armbruster, SIOR, vice president of leasing in IDI’s Cincinnati market office. “We’re pleased that this new tenant will be able to take advantage of the building’s tax benefits.”
Armbruster represented IDI in the lease deal, and broker Si Pitstick of Cincinnati Commercial Realtors (member of Cushman & Wakefield Alliance) represented Appleton.
Appleton creates product solutions through its development and use of coating formulations, coating applications and encapsulation technology. The Company produces carbonless, thermal and security papers, performance packaging and Encapsys® microencapsulated products. Appleton, headquartered in Appleton, Wisconsin, has manufacturing operations in Wisconsin, Ohio, and Pennsylvania and Massachusetts, employs approximately 2,100 people and is 100 percent employee-owned. For more information, visit www.appletonideas.com.
IDI is a leading, full-service real estate property company with a singular focus on industrial real estate. The company provides development, investment, property management and leasing services supported by eight market-focused offices. To date, IDI has delivered 63 world-class business parks, and developed and acquired 134 million square feet of space in the U.S., Canada and Mexico for a growing roster of national and international clients. IDI also manages a portfolio of just over 56 million square feet. IDI’s investment portfolio, backed by domestic and international investors in the public and private sector, has total assets in excess of 25 million square feet. Assets are owned through a combination of development partnerships, long-term hold joint ventures and investment funds. For more information on IDI, visit www.idi.com.