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Industrial Realty Group

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.

IRG acquires, preserves, redevelops and repositions corporate and governmental real estate assets for modern day use through individual partnerships and limited liability companies. The majority of the assets in the portfolio have been purchased well below replacement costs permitting IRG to spend sufficient capital to modernize the existing facilities, while still being able to offer inexpensive leasing terms to tenants.

While each acquisition requires its own specific strategy, many projects share similar structures and traits. Most of the projects involve acquiring real estate that is no longer needed by its current owner and renovating the property to meet market requirements. For instance, in 2005 IRG purchased a dilapidated steel mill in Baltimore, Maryland from a bankrupt steel manufacturer. Through a complex transaction, IRG completely renovated the 800,000 square foot facility, remediation of the environmental concerns and re-developed the project into a facility that currently houses major operations for Boise Cascade (NYSE: BZ), Weyerhaeuser (NYSE: WY) and several other regional users. Certain projects involve lease-back transactions with major corporations where IRG reduces operating costs at the property so that the tenant can remain in their facility. IRG has successfully completed these types of transactions with major corporations, such as Goodyear (NYSE: GT) and Lockheed Martin (NYSE: LMT).

IRG has continually managed impressive NOI growth rates and excellent return on capital to portfolio investors for many years.

Job Creation

Every project IRG works on begins with finding the right local team to understand the property, community and labor force. IRG’s operating plan is to hire locally, with rare exceptions for a skills set which can not be found in the area. Upon acquiring a property or during due diligence, IRG identifies and builds relationships with key site personnel. These retained experts have deep institutional knowledge about the property’s past and can support the site’s future vision. We then secure vetted, local architects, civil engineers, wetlands experts, construction companies and service companies. Companies with experience working on the site are often selected. Over the years, we have realized there is great savings and efficiencies in using the experts who have experience navigating and working on the subject site. The team anticipates that as many of these newly-created jobs would be locally sourced.

Acquisition, Development and Management

Our experienced investment, acquisition and leasing teams not only locate key sites, they find innovative solutions to reposition and stabilize the assets, while partnering with economic and governmental organizations to propel these projects on to national and international recognition. In the commercial real estate industry, IRG is known for its successful track record; taking challenging assets and creating tremendous value. The company has developed deep, long-standing relationships with key entities including local and national economic development officials, high-profile tenants, financial institutions and leaders in emerging industries.

Corporate Campuses

Since its founding in 1974, IRG has supported thousands of national and international brands in developing creative real estate solutions. Often, these large corporations are looking to restructure or move to a property which better suits the company’s culture or future ambitions.

IRG is able to evaluate the condition and opportunities of the company’s existing real estate; determining its highest and best use for redevelopment. Is the space suited for single-tenant or multi-tenant occupancy? Will it serve a single or a mix of uses? Is the site eligible for historic tax credits or ripe for adaptive re-use? Will it become apartments with a walkable town center or a corporate headquarters with office and industrial space? Is re-zoning an option? Which companies are already looking at the immediate area or region? From there, IRG supports the organization’s creation of a plan to secure more functional space, which may involve development of a new building or buildings and/or leasing and renovating a space. In addition, IRG can guide corporate leadership teams through the process of securing incentives and developing a plan which invests into the community and real estate it will vacate, leaving a positive impact.

As a partners during the process, IRG can purchase and lease-back portions of a property or its entirety, creating a seamless transition for employees and saving the steep cost for corporations to continue maintaining the real estate. This process is beneficial in terms of public relations, as it leaves behind a plan for mitigating reduced tax revenue and job opportunities. By beginning the transition with IRG, a public relations strategy can be in place ahead of the announcement, creating alignment between the corporation, public officials and IRG allowing for a smooth transition.

Diversified Portfolio

Although primarily an industrial based company, IRG’s nationwide portfolio represents virtually every area of real estate including: industrial and warehouse buildings, offices, apartments and multifamily complexes, mixed-use projects, retail space, shopping centers, business parks, airfields and hangars, hotels and entertainment venues, marinas, storage facilities, and more.

Our experienced real estate professionals not only locate key sites, they find innovative solutions to reposition and stabilize the assets, while partnering with economic and governmental organizations to propel these projects on to national and international recognition.

Environmental Expertise

IRG has acquired and redeveloped dozens of environmentally impaired assets throughout North America. We are committed to measures focused on human health and safety and ecological improvement. We work diligently with all stakeholders (sellers, regulators, municipalities, and the public) to eliminate any environmental liability associated with each site we purchase. We work on many sites that are regulated by formal state and federal hazardous waste agreements (AOCs, RPs, etc.) as well as those regulated through voluntary programs at the state and federal level. We work with everything from simple issues to issues as complex as are found at federal superfund sites. We believe we have as much or more experience redeveloping environmentally impaired sites than any other investor/developer in the world.

Public Private Partnerships

IRG has long-established experience with supporting environmentally challenged properties and has led efforts at complex formerly federalized sites. As a leader in the conversion and privatization of federal properties, including closed military bases, IRG owns and is master developer of three closed military bases, a former NASA manufacturing facility and a closed Veterans Affairs complex. IRG has also worked extensively with local, state and national government entities to locate tenants, secure incentives and solve problems that others simply were unable to resolve.

Our Reputation

Their track record for leasing is extraordinary… To put it simply, they have figured out how to make projects successful where others could or would not.

Will Dalman, Senior Vice President, Huntington Bank

Our decision…was based on factors having to do with the park itself, but equally important was the competence, professionalism, sophistication and integrity of Stuart Lichter and his staff.

Ken Moore, Manager of Internal Operations, Northrop Grumman

IRG has been instrumental to the success of McClellan Park. IRG is a very professional organization with excellence in project design and management, governmental and tenant relations, and construction management.

Paul J. Hahn, Director of Deprtment of Economic Development, County of Sacramento

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