Industrial Realty Group Announces Plans for

Southside Industrial Park

Decatur, IL – The Economic Development Corporation of Decatur and Macon County (EDC) announced today that the Industrial Realty Group, LLC (IRG) has purchased the former Zexel Corporation facility on Southside Drive in Decatur and plans to redevelop the property for industrial and office tenants.

Quadrelle Realty Services will supervise modifications to the existing facility and all tenant improvements. John Phillips, a Decatur investor in the project, will market and manage the property locally.

What will become known as Southside Industrial Park currently includes approximately 500,000 square feet of industrial, warehouse and office space on 104 acres. The site has three existing buildings which include: 420,000 square feet of manufacturing and warehouse space with an attached 20,000 square foot two story office building overlooking South Side Drive; 48,000 square foot single story office building; and a 10,000 square foot wind tunnel currently under lease by Air International.

Plans for the Industrial Park are to divide and build out space to suit individual tenants. Available space is negotiable, but the minimum is expected to be 5000 square feet for office space and 20,000 square feet for industrial space. As a part of the redevelopment strategy, which EDC and company officials believe will spur additional interest, the 60,000 square foot office building on the west side of the property will be available for sale or lease to a single tenant.

“I learned of this facility while working on expansion plans for Barton Manufacturing” stated John Phillips, a local member of the investment group. “Although the timing did not work for Barton’s expansion plans, I found this facility to be a great asset for Decatur and approached IRG to become part of the redevelopment of this facility”.

“We are seeking multi-year tenants at very attractive lease rates. These tenants will provide jobs and full utilization of this facility making it an asset to the community and profitable for us,” said Phillips. “IRG is a proven leader in providing industrial and commercial tenants with viable space alternatives within existing facilities which when rehabilitated, provide a dramatic economic advantage over the cost of new construction and associated lease rates.”

“My family lives in Decatur and we are all invested in businesses in Decatur. We believe that the area south of the lake will see strong development going forward and with this investment and the expansion of Barton Manufacturing down the road we are committed to being part making that development happen.”

“We are pleased that plans are underway to bring new life to this property”, stated Mayor Paul Osborne. “This is one more example that Decatur is moving in the right direction”, Osborne added.

“This redevelopment project will help address the current need for existing manufacturing, warehouse and office space in this community", said Craig Coil, President of the EDC. “Due to issues with the previous owners, we have not been able to aggressively market the facility in the past and we are excited about the potential of this acquisition. This space will provide one more tool as we work to attract and retain quality jobs in Decatur and Macon County,” added Coil.

The Economic Development Corporation of Decatur and Macon County is a nonprofit public-private partnership responsible for non-retail business attraction, expansion and retention efforts in Decatur and Macon County. In the last two years alone, the EDC has worked with local, state and federal partners to access nearly $25 million in assistance to local employers. The EDC has also facilitated projects which have resulted in the creation and/or retention of over 2,200 jobs and private sector capital investments of more than $50 million. These efforts have resulted in the Decatur MSA seeing one of the largest one year decreases in unemployment rates of any metro area in the state and an unemployment rate which currently stands as at five year low.

Industrial Realty Group, LLC is one of the largest national developers, owners and operators of vacated industrial and government properties in the United States. Based in Southern California, the Industrial Realty Group has a portfolio of over 40,000,000 square feet in more than 60 properties in 25 states. Quadrelle Realty Services of Larchmont, New York, management agent for IRG, will supervise modifications to the existing facility and all tenant improvements through Peter Yanson in Quadrelle’s Muncie, Indiana office. Locally, John Phillips can be reached by calling (217) 454-5652 or (217) 428-0711 extension 105.