IRG Continues Portfolio Expansion with 1.4 Million Sq. Ft. Mixed-Use Facility in Pocatello, Idaho
POCATELLO, Idaho, June 21, 2021 /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 former Navy Ordnance Plant in Pocatello, Idaho.
The massive, 23-building campus includes 1.4 million square feet of warehouse, industrial, and office space. Companies including Eaton Metal Products, Frazier Industrial Co., Mountainland Contractors Supply, SME Steel Corp., and Virginia Transformer Corporation operate on the multi-tenanted site.
"When we visited the property, we knew it would be a great investment," said Stuart Lichter, President of IRG. "The site has an incredible history, but we truly believe the best is yet to come."
Future plans include investing into the aging facility by completing deferred maintenance, improving the exterior landscaping, painting, and other roadway improvements. IRG is also considering offering new retail opportunities on site. These efforts will likely attract a mix of tenants, including industrial distribution, manufacturing, office, and retail tenants.
Don Zebe, Jared Zebe, and Mike Zebe of Colliers have already begun marketing the site, which has been rebranded "Titan Center."
The new identity honors its rich history as an essential naval base, manufacturing and repairing colossal cannons and artillery, while looking ahead to its next chapter as a dynamic, commercial project with abundant infrastructure and excellent logistical and transport capabilities.
"The project is very attractive to tenants looking in the Southeast Idaho market," said Don Zebe, the listing broker. "We've responded to multiple interested tenants who are considering leasing existing space or potential build to suit options on the 150-acre property. We anticipate this high demand will continue."
The project features a combination of heavy capacity cranes, desirable ceiling clearance, rail connection, and easy access to interstate travel on I-86 and I-15, which would be nearly impossible to duplicate anywhere in the country.
IRG credits the City of Pocatello for a smooth transition.
"The city is excited to welcome Industrial Realty Group to Idaho," said Mayor Brian Blad of Pocatello. "This shift, at such an important campus in our community, will result in an expanded tax base and significant job creation as more companies choose to move to the great city of Pocatello."
Don Zebe | Partner
208 403 1973
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.
In 2021, IRG announced that the company (IRG Industrial, LLC) had received its inaugural, investment-grade credit rating and issued $335 Million of USPP bonds, providing new capital to recapitalize assets and expand its industrial holdings in major U.S. markets.
Learn more at www.industrialrealtygroup.com.
Lauren Crumrine, Director of Marketing
Industrial Realty Group, LLC
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SOURCE Industrial Realty Group, LLC