Industrial Realty Group Expands Presence in Mexico with New Acquisition

Industrial Realty Group, LLC (IRG), one of America's largest commercial and industrial property owners, has made a significant stride in expanding its operations in Mexico. The company’s subsidiary, Industrial Realty Mexico (IRM), recently acquired a substantial property spanning 121,608 square feet located in Hermosillo, Mexico. This acquisition marks an important chapter in IRG's strategic growth in the region.

Justin Lichter, Chief Investment Officer of IRG, expressed enthusiasm about the Hermosillo property. He stated, "IRG is committed to its new business ventures in Mexico. The site in Hermosillo is an opportunity for us to do what we do best—develop a new chapter for underutilized space and restore business activity and resulting jobs." This commitment to revitalization is a hallmark of IRG's operational philosophy, where the focus is on transforming underused properties into functional spaces that foster economic growth.

The former Lowe's retail space is ideally positioned for redevelopment, with flexible plans in place that cater to market demands. The possibilities for this site are extensive, as there is potential for it to remain a retail hub or transition into industrial space. Such versatility is characteristic of IRG's approach to property management, which often entails reimagining the potential of big-box retail locations to meet the requirements of industrial users.

Moreover, the acquisition includes significant developable land suitable for various business opportunities, be it retail, commercial, or industrial, all located on a major roadway frequented by traffic. This prominent location enhances the attractiveness of the investment, as it is not only about the square footage but also about accessibility and visibility in a thriving commercial environment.

As a part of IRM's strategic initiatives, this acquisition adds to the growing portfolio of IRG, which now owns a total of ten properties in Mexico, encompassing over 2 million square feet. These properties are expected to play a crucial role in revitalizing local economies and generating synergistic business opportunities, contributing to the overall growth in the region.

This deal marks IRG's eleventh investment in Mexico, reinforcing the company’s dedication to expanding its footprint beyond the U.S. border. As recognized leaders in adapting commercial and industrial real estate, IRG aims to leverage its expertise in various markets. Their history of significant real estate transactions underscores their capability to navigate complex environments and challenges within the real estate sector.

For additional information on this acquisition and other projects, interested parties can visit Industrial Realty Mexico or connect with Justin Lichter directly for inquiries related to leasing or acquisition opportunities at Contact Justin Lichter.

About Industrial Realty Group

IRG is a nationwide real estate development and investment firm that specializes in the acquisition, development, and management of commercial and industrial real estate across the United States. Through its affiliated partnerships and limited liability companies, IRG maintains a robust portfolio, comprised of over 150 properties spanning 31 states, totaling more than 100 million square feet of rentable space. The firm is widely acknowledged for its innovative approach to adaptive reuse of commercial properties, aimed at resolving complex real estate challenges facing the industry today.

To learn more about IRG and its comprehensive services, visit Industrial Realty Group.