IRG Acquires Well-Positioned Industrial Portfolio in St. Cloud
Central Minnesota Site Features Nearly 1 Million Square Feet
ST. CLOUD, Minn. , Nov. 12, 2024 /PRNewswire/ -- Industrial Realty Group, LLC (IRG), one of the country's largest owners of commercial and industrial properties, announced today that it has acquired a 965,134 square foot industrial portfolio in Central Minnesota.
The eight buildings acquired are part of the St. Cloud Industrial Park. Long the home to the fulfillment operation of Publisher's Clearinghouse (PCH), IRG intends to redevelop and lease the buildings as PCH vacates space in the near future.
"IRG has a strong track record of acquiring similar assets and securing job-creating companies to lease the space," said Justin Lichter, Chief Investment Officer of IRG. "We will continue to work in concert with local stakeholders to develop a plan benefiting the economy and community in St. Cloud."
Minnesota has long been a market of interest for IRG, which holds approximately 4.8 million square feet of space in the state. This includes Rochester Technology Campus, home to IBM.
While the majority of the space in St. Cloud is currently leased, the transition out of several buildings by PCH provides the opportunity to attract a diverse mix of flex, distribution, warehousing and manufacturing users. Future space availabilities will range from +/- 50,000 to +/- 500,000 square feet. The property also has convenient access to both I-94 and Highway 10 and is railed served.
For Leasing Inquires - | Casey O'Malley, Vice President, Colliers International |
casey.omalley@colliers.com, 320-260-6815 | |
Darrell Bossert, Senior Vice President, IRG | |
dbossert@irg.cc, 440-539-4160 |
For Acquisition Inquiries - | Peter Goffstein, Executive Vice President, IRG |
pgoffstein@irg.cc, 513-404-6401 |
About IRG
IRG is a nationwide real estate development and investment firm specializing in the acquisition, development and management of commercial and industrial real estate throughout the United States. IRG, through its affiliated partnerships and limited liability companies, operates a portfolio containing over 150 properties in 31 states with over 100 million square feet of rentable space. IRG is nationally recognized as a leading force behind the adaptive reuse of commercial and industrial real estate, solving some of America's most difficult real estate challenges.
Learn more at www.industrialrealtygroup.com.
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SOURCE Industrial Realty Group, LLC
