IDI's Middlesex Center 2 Marks Return of Speculative Construction in New Jersey
751,450 SF Building One of Largest Under Construction in State
ATLANTA, January 7, 2013 – IDI, a leading full-service industrial real estate company, announced today the construction of Middlesex Center 2, a 751,450 square foot inventory building located at Exit 8A of the New Jersey Turnpike. The building is expected to be completed in July 2013.
“Middlesex Center 2 marks the resurgence of inventory building development in New Jersey and is one of the largest industrial facilities under construction in the state,” said Frank Petkunas, Senior Vice President and Regional Managing Director for IDI’s northeast operations. “Situated proximate to critical point infrastructure and the most populous area in the U.S., the building offers prospective tenants the best first class option in the market.”
Located in the 206 acre Middlesex Center, building 2 will feature the most contemporary warehouse component technology in addition to customizable warehouse lighting, dock equipment and office space. The office park also includes Middlesex Center 1, a 1,351,200 SF building and plans for the 450,000 SF Middlesex Center 3 building which will be constructed in 2013.
IDI has nearly 7 million SF under development in 9 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.
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 $1.8 billion, IDI has ownership or interests in 34 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 140 million square feet of industrial space and completed more than 568 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 19 million square feet of assets and the company manages a portfolio of 56 million square feet.