IDI marked the mid-point of 2012 with its strongest level of development and leasing since the real estate recession began in 2008.
From January to July 2012, IDI approved, started or completed development on 13 new build-to-suit and inventory projects totaling 6.1 million square feet in eight U.S. markets.
A sign of overall market recovery, IDI has begun inventory development in Memphis, Atlanta and Indianapolis, representing the first substantial speculative building by any industrial real estate company in these markets since 2008.
In Atlanta, IDI's development projects include a 559,407-square-foot build-to-suit for Mitsubishi Electric Cooling & Heating that is currently under construction in Gwinnett County. IDI also recently broke ground on a 650,300-square-foot inventory building at Riverside Business Center in the I-20 West submarket of Atlanta.
IDI development activity was most notable in the company?s Memphis market office with 1.9 million square feet under construction or completed in the past year.
IDI?s Dallas office has also seen strong development activity in the past year, with a 250,548-square-foot expansion to Building B at Speedway Distribution Center scheduled for a September delivery and a 529,570-square-foot inventory building expected for completion by the end of 2012. Other markets with properties currently under development include Cincinnati, Los Angeles and Ft. Lauderdale. IDI also delivered a building in Salt Lake City in March 2012.