Kao Brands Signs 351,000-SF Lease with IDI
Cincinnati (August 11, 2005) -- Kao Brands Company has signed a 351,000-square-foot lease with IDI at Port Union at Union Centre in metro Cincinnati. Kao Brands will move into building F, the largest spec building ever constructed in the Cincinnati area consisting of 697,500 square feet, at year end and will use the space for warehousing and distribution.
“Kao Brands Company’s commitment to our development at Port Union at Union Centre is a clear signal that the local market has firmed up,” said Doug Armbruster, vice president of leasing, who represented IDI in the transaction. Kris Bjorson and Brian Leonard with The Staubach Company represented Kao Brands Company.
Port Union Distribution Center and Port Union at Union Centre consist of three buildings with 775,000 square feet of industrial space. In addition to those distribution centers, IDI’s Cincinnati office has two other business parks: Park West International and Park South International, a new 230-acre business park in Boone County Kentucky. IDI’s Cincinnati office has developed more than 8.5 million square feet of industrial space in the Cincinnati and Greater Kentucky area.
In addition to Cincinnati, IDI has seven other regional development offices in Atlanta, Chicago, Dallas, Fort Lauderdale, Los Angeles, Memphis and Philadelphia.
IDI (www.idi.com) is a national, full-service industrial real estate developer based in Atlanta, providing strategically located properties throughout the U.S. to best meet tenants' distribution, warehouse and light-manufacturing needs. Since the company was founded in 1989, IDI has grown from assets of $89 million to more than $498 million in wholly owned assets and another $846 million in joint-venture assets. Company gross revenues have grown from $3.2 million in 1989 to more than $187 million as of 2004, year-end. IDI has developed nearly 100 million square feet of industrial space worth over $3.2 billion.