IRG Expands its Nationwide Real Estate Portfolio by Acquiring Key Industrial Assets in Ohio and Texas

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Feb 07, 2019, 13:00 ET

LOS ANGELES, Feb. 7, 2019 /PRNewswire/ -- Industrial Realty Group, LLC, one of the country's largest owners of commercial and industrial properties, announced today that it has acquired three separate industrial properties, located in Columbus, Ohio; Amarillo, Texas; and Grapevine, Texas.

"IRG owns a significant amount of real estate in both Texas and Ohio, and we are glad to increase our ownership portfolio in these two markets. We stay informed about the climate of those markets and potential acquisition properties, focusing on value-add opportunities," said John Mase, Chief Executive Officer of IRG. "We began 2019 strong by adding these three properties to our portfolio."

With 52 tenants, 13 commercial buildings, and 726,292 square feet, the Columbus acquisition encompasses numerous city blocks southeast of East 5th Avenue and Cassady Avenue. The site offers a large, infill logistics park, exceptionally close to John Glenn International Airport. The addition of this property to IRG's portfolio increases its Columbus area market holdings to about 6 million square feet.

The property located at 4714 North East 24^th Avenue in Amarillo, Texas is a light industrial facility featuring 412,000 square feet and 54.9 acres. It is a key distribution facility in the Amarillo market. The Grapevine, Texas asset, located at 500 Industrial Blvd., is an industrial manufacturing facility with 191,800 square feet and 10.8 acres.

"We are fortunate to add to our portfolio an asset located just minutes from the Dallas/Fort Worth International Airport," said Mase.

These acquisitions will complement IRG's existing 28 state and approximately 100 million-square-foot portfolio, comprised of mostly industrial and commercial space.

All three of these purchases were coordinated by Jerry A. Brown, Jr. and his team from the law firm, Fainsbert, Mase, Brown & Sussman, in Los Angeles, California.

For information about available space at these properties or throughout the portfolio, send inquiries to [email protected].

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 28 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.

For more information, contact:
Lauren Crumrine, Director of Marketing
Industrial Realty Group, LLC
614-562-9252
[email protected]

SOURCE Industrial Realty Group, LLC