IndCor Acquires Close to 2 Million Square Feet of Space in Two Improving Markets
Chicago, IL, February 21, 2013 --(PR.com)-- IndCor, a premier real estate company focused on the ownership and management of industrial properties, expanded its presence through two recent acquisitions in Texas and Florida. The acquisitions included Crossroads Distribution Center, a 712,145 square foot, four building park in Orlando, FL; as well as 1,005,916 square feet of Class A industrial space in El Paso, TX. This resulted in an addition of nearly 2 million square feet to IndCor’s portfolio of owned and managed properties.
Acquired in November 2012, the ten building Class A industrial portfolio in El Paso, TX, was purchased by IndCor at a significant discount to replacement cost. The portfolio had been institutionally owned, managed and maintained for many years.
IndCor continued to expand its growth in Orlando with the January 2013 acquisition of the Crossroads Distribution Center portfolio – bringing its total Orlando platform to approximately 3.1 million square feet. The property, conveniently located in the Southeast submarket of Orlando along the Beachline Expressway and in close proximity to the Florida Turnpike and Highway 441/Orange Blossom Trail, is 95% occupied and is a Class A park with concrete tilt construction and minimum 24 foot clear height.
“We’ve enjoyed the steadily improving demand in these two markets in the United States – El Paso and Orlando,” says Tim Beaudin, Chief Executive Officer at IndCor. “We are pleased to grow our existing platform in these solidly performing markets.”
About IndCor:
IndCor Properties, Inc. (IndCor) is one of the premier real estate companies in the United States focusing on the ownership and management of industrial properties. As a comprehensive real estate operator, IndCor currently owns and manages approximately 84 million square feet located in 40 key logistics markets in 23 states. IndCor is headquartered in Chicago, Illinois. IndCor was formed in 2010 as a portfolio company of The Blackstone Group, one of the world’s largest alternative asset managers and advisory firms. To learn more, visit www.indcor.com.
Acquired in November 2012, the ten building Class A industrial portfolio in El Paso, TX, was purchased by IndCor at a significant discount to replacement cost. The portfolio had been institutionally owned, managed and maintained for many years.
IndCor continued to expand its growth in Orlando with the January 2013 acquisition of the Crossroads Distribution Center portfolio – bringing its total Orlando platform to approximately 3.1 million square feet. The property, conveniently located in the Southeast submarket of Orlando along the Beachline Expressway and in close proximity to the Florida Turnpike and Highway 441/Orange Blossom Trail, is 95% occupied and is a Class A park with concrete tilt construction and minimum 24 foot clear height.
“We’ve enjoyed the steadily improving demand in these two markets in the United States – El Paso and Orlando,” says Tim Beaudin, Chief Executive Officer at IndCor. “We are pleased to grow our existing platform in these solidly performing markets.”
About IndCor:
IndCor Properties, Inc. (IndCor) is one of the premier real estate companies in the United States focusing on the ownership and management of industrial properties. As a comprehensive real estate operator, IndCor currently owns and manages approximately 84 million square feet located in 40 key logistics markets in 23 states. IndCor is headquartered in Chicago, Illinois. IndCor was formed in 2010 as a portfolio company of The Blackstone Group, one of the world’s largest alternative asset managers and advisory firms. To learn more, visit www.indcor.com.
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