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Third Party Logistics Company Signs 178,200 SF Lease in Dallas, TX: Continued Growth Throughout North America
For Immediate Release
1/23/2006
DALLAS, Jan 23, 2006 – IDI has closed a 178,200-square-foot lease with Ozburn-Hessey Logistics at Pinnacle Industrial Center, located southwest of downtown Dallas. With the lease, the third-party logistics company will occupy half of the space in 356,400-square-foot Building E as of February 1.
"All of our expansions are client-directed and we look forward to continued growth in the Dallas market and throughout North America," commented Scott McWilliams, CEO of Ozburn-Hessey Logistics. OH Logistics has an existing facility in the Dallas area and operates over 20 million square feet of domestic warehouse space.
Building E will provide storage and distribution space to accommodate recent 3PL assignments won by Ozburn-Hessey. John Leinbaugh, vice president of marketing in IDI's Dallas office, negotiated the lease for IDI. Doug McDowell of ProVenture Commercial Real Estate and Ann Huntington of Trammell Crow Co. represented Ozburn-Hessey.
A total of 178,200 square feet of space remains available for lease at Building E. Also at Pinnacle Industrial Center, 75,000 square feet of space is available in Building F. Three additional sites at the park can accommodate new developments ranging from 250,000 square feet to 350,000 square feet, representing a total of 900,000 square feet of developable inventory space.
In addition to its Dallas regional office, IDI operates development offices in Atlanta, Chicago, Cincinnati, 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 meet its tenants' distribution, warehouse and light-manufacturing needs. In addition, IDI Services Group provides comprehensive property management, leasing and construction management services, currently managing 50.3 million square feet of property for IDI tenants. IDI has developed 102 million square feet of industrial space worth $4.2 billion. Since the company was founded in 1989, IDI has grown from assets of $89 million to $486 million in wholly owned assets and another $810 million in joint-venture assets.
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