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Former Lowe’s Retail Store Poised for a Repositioning Options
LOS ANGELES, Feb. 26, 2025 /PRNewswire/ — Industrial Realty Group, LLC (IRG), one of the United States’ largest owners of commercial and industrial properties, announced that its subsidiary, Industrial Realty Mexico (IRM), has expanded its portfolio in Mexico, purchasing a 121,608 square foot property in Hermosillo.
“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,” said Justin Lichter, Chief Investment Officer of IRG.
Through IRM, IRG now owns ten properties, totaling over 2 Million square feet and including significant developable acreage. These sites will revitalize local economies and create synergistic business opportunities. (PRNewsfoto/Industrial Realty Group, LLC)
With prime location, the former Lowe’s retail store will be redeveloped according to market demand. The site could continue to serve as a retail space or be converted into industrial space, an approach IRG has taken before. Big-box retail space often has the height clearance, square footage and parking required by industrial users.
The acquisition also included significant developable land, which could support retail, commercial or industrial opportunities on the highly traveled, main thoroughfare.
Through its division in Mexico, IRM, this acquisition marks IRG’s eleventh purchase south of the U.S. border.
For more information about these and other projects, visit www.industrialrealtymexico.com or contact Justin Lichter ([email protected]) regarding leasing and acquisition opportunities.
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 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.
Learn more at www.industrialrealtygroup.com.
Media Contact:
Lauren Crumrine, Vice President of Marketing
Industrial Realty Group | Industrial Realty Mexico
614-562-9252
[email protected]
SOURCE Industrial Realty Group, LLC
