Industrial Realty Group

What Industrial Realty Group does

Industrial Realty Group, LLC (IRG) is a privately held, nationwide real estate acquisition, development, and management firm headquartered in Los Angeles, with a portfolio in excess of 100 million square feet across more than 150 major projects in 31 states and over 2,000 tenants. The firm's core competency is adaptive reuse: it acquires obsolete industrial buildings, corporate campuses, brownfields, NPL Superfund Sites, and closed federal installations (closed military bases, a former NASA manufacturing facility, and a closed Veterans Affairs complex) and repositions them through highly-engineered environmental remediation, master planning (campuses of 50-3,000 acres; buildings of 5,000-4 million sq ft), and tenant assembly. Representative tenant work spans Fortune 100 industrial users (Hyundai Translead 1.38M sq ft in Joliet; Schlumberger ~1M sq ft in Shreveport; Amazon at Woodbridge Corporate Park; Pfizer at Hudson Valley iCampus; Northrop Grumman; Panasonic; Western Digital; SANY; Fuyao; Goodyear legacy) alongside mid-market and government tenants, delivered through direct enterprise leasing plus a JV/channel layer with PREP Funds, DWREP, Spectra, ARCO, Belzberg, and municipal/port authorities (Lorain County Port Authority, Port of Oakland, Atlantic City Airport). Revenue mechanics are a blend of recurring long-term industrial lease rent (across distribution, manufacturing, logistics, 3PL, cold storage, and flex space), transactional acquisition/development gains, and managed-services fees from IRG Realty Advisors (the in-house property management arm that has actively managed 115+ million sq ft and completed 1,000+ transactions valued at over $1B). In May 2026 IRG announced a definitive contribution agreement with Sachem Capital Corp. to form IRG Realty Trust (IRGT), a top-10 publicly listed industrial REIT with an implied enterprise value of approximately $3.4 billion and 98 contributed industrial properties (~$2.9B gross asset value), pending shareholder approval and targeted to close by end of 2026. The firm is founder-led (Stuart Lichter, President/Founder/Chairman) with a recently expanded C-suite (Greg Hipp as COO; Justin Lichter as CIO; Richard H. Klein as CFO), and is supported by public-private partnerships, C-PACE and ground-lease financing, and a national office footprint spanning Sacramento, Chicago, Akron, Cleveland, Columbus, Detroit, New York, Dallas-Fort Worth, Bradenton, and Baltimore.

Name

Industrial Realty Group

Legal name

Industrial Realty Group, LLC

Website

https://industrialrealtygroup.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

101–250 employees

Short description

Industrial Realty Group is a privately held Los Angeles-based real estate firm that acquires, remediates, and redevelops obsolete industrial campuses, brownfields, and closed federal properties, leasing 100+ million sq ft across 31 states to Fortune 100 enterprises, mid-market manufacturers, and government tenants via direct leasing and public-private partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices13 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Industrial leasing rent: Long-term rental income from leasing ~100+ million sq ft of industrial, warehouse, manufacturing, office, retail, cold-storage and flex space to more than 2,000 tenants (Fortune 100, mid-market, SMB, and government). Recurring base rent with mark-to-market rent growth on renewal.
2. Acquisition, development and sale of real estate assets: Capital deployment into acquisition, ground-up development, and adaptive-reuse redevelopment of industrial/commercial properties, with periodic monetization via sales (e.g., Midway Mall purchase from Lorain County Port Authority; former Caterpillar, Teledyne, IBM Rochester, Pfizer, Spiegel, GM, Ford, Maytag, Northrop Grumman, Levi's, NASA and United Technologies sites acquired and redeveloped). One-time transactional revenue.
3. Property management and advisory fees (IRG Realty Advisors): Fees from active property/asset management, leasing and construction/project management services delivered by IRG Realty Advisors (offices in New York and Ohio). Personnel have managed 115+ million sq ft, completed 1,000+ commercial transactions valued at $1B+, and served as Construction/Project Managers on $500M+ of projects.
4. Public-private partnership and incentive-driven project economics: Revenue and value capture from public-private partnerships — including C-PACE financing (Peachtree Group $70M), ground leases (Blue Owl Capital $65M), state brownfield grants ($2M CT, $6.1M Port of Nevada, $2M New Britain) — that fund infrastructure and remediation tied to long-term lease and tax economics.
5. Public REIT ownership economics via IRG Realty Trust: Post-close ownership of operating partnership units representing 94.1% of IRG Realty Trust (formed via definitive contribution agreement with Sachem Capital Corp), an enterprise with ~$3.4B EV holding 98 industrial properties and ~$2.9B gross asset value — converting industrial real estate cash flow into publicly-listed REIT distributions and capital-markets proceeds.

Pricing tiers

Go-to-market motion4 records

Distribution channels4 records

Marketing channels7 records

Core offering

Industrial Realty Group (IRG) is a privately held, nationwide real estate development and investment firm that acquires, redevelops, leases, and manages commercial and industrial properties. Its core competency is adaptive reuse of obsolete buildings, brownfield and NPL Superfund sites, and closed federal/military/NASA installations into productive, job-creating assets. The firm operates a portfolio exceeding 100 million square feet across more than 150 projects in 31 states, serving over 2,000 tenants ranging from Fortune 100 companies to local small businesses.

Product overview

Industrial Realty Group, LLC (IRG) is a privately held, nationwide real estate acquisition, development and management firm with a portfolio exceeding 100 million square feet across more than 150 major projects in 31 states. Rather than selling a single software product, IRG delivers a platform-plus-projects offering composed of: (1) the core IRG acquisition, development, adaptive-reuse, environmental, leasing and property-management business; (2) IRG Realty Advisors (IRGRA), its in-house property management subsidiary with offices in New York and Ohio; (3) the affiliated American Development Center (ADC); and (4) a portfolio of branded, named real-estate projects including Hall of Fame Village, Hudson Valley iCampus, McClellan Park, Promenade at Downey, Rochester Technology Campus, The East End & Goodyear Headquarters, Woodbridge Corporate Park, I-X Center, Shreveport Business Park, Port of Nevada™, Hudson District, Wichita Business Park, the Joliet industrial facility, and the New York Center for Innovation at the former Pearl River Pfizer campus. Together these assets and operating units form the integrated IRG platform, which is being extended via the proposed IRG Realty Trust (IRGT) public industrial REIT combination with Sachem Capital Corp.

Differentiator

Problem solved

Functional benefit

Brands

• IRG Realty Advisors: Property management arm created from the merger of two IRG-founded independent property management companies; offices in New York and Ohio; manages the IRG portfolio.
• IRGRA
• American Development Center (ADC)

Products and services

• Industrial Real Estate Leasing Long-term rental of industrial, warehouse, manufacturing, office, retail, cold-storage, and flex space across IRG's 100+ million sq ft portfolio in 31 states. Serves Fortune 100 companies, mid-market firms, SMBs, and government agencies with recurring base rent and mark-to-market rent growth on renewal.
• Adaptive Reuse and Brownfield Remediation Development Acquisition, environmental remediation, and adaptive reuse of obsolete industrial buildings, corporate campuses, brownfields, and NPL Superfund Sites into productive new uses. Includes conversion and privatization of closed military bases, former NASA manufacturing facilities, and closed Veterans Affairs complexes.
• Build-to-Suit Industrial Development Custom-built industrial facilities designed and constructed for specific tenant requirements, including master-lease campus deals. Examples include the 1.38M sq ft Hyundai Translead facility in Joliet, IL and the 200,000+ sq ft RoadOne warehouse in Suffolk, VA.
• IRG Realty Advisors (Property Management Services) In-house property management company offering active property/asset management, leasing, and construction/project management services. Personnel have managed over 115 million sq ft of commercial property, completed over 1,000 commercial transactions valued at more than $1 billion, and served as Construction/Project Managers on projects valued at more than $500 million.
• IRG Realty Trust (IRGT) — Proposed Public Industrial REIT

Quantifiable outcome

• Over $1 billion of corporate and government properties acquired/developed
• +8 more outcomes

Named customers24 records

Segments8 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Becknell Industrial: Private U.S. industrial developer and owner (~40M sq ft) focused on build-to-suit and speculative industrial across 25+ markets. Comparable to IRG in private industrial ownership model and build-to-suit execution.
• Dermody Properties: Private U.S. industrial developer focused on build-to-suit logistics and distribution facilities for Fortune 100 customers. Comparable to IRG in private developer profile, build-to-suit execution for large tenants, and capital-partner/JV model.
• First Industrial Realty Trust: Public U.S. industrial REIT (~67M sq ft) focused on manufacturing, R&D, warehouse, and logistics in major metros. Directly comparable as a public industrial REIT benchmark for IRG's portfolio economics and a key comp set for IRGT.
• Eastgroup Properties: Public U.S. industrial REIT focused on multitenant distribution and light industrial properties in Sun Belt markets. Comparable to IRG as a public industrial REIT peer for IRGT, though skewed toward smaller multitenant vs. IRG's larger single-tenant/campus bias.
• Bridge Industrial: Private U.S. industrial developer specializing in Class A logistics and infill industrial across major markets. Comparable to IRG as a private capital partner / JV counterpart and as a competing buyer of large industrial campuses.
• STAG Industrial: Public U.S. industrial REIT (~110M sq ft) focused on single-tenant industrial properties across 40+ states. Directly comparable to IRG in geographic scale, single-tenant orientation, and tenant mix spanning mid-market to Fortune 500.
• Majestic Realty Co. Large private U.S. industrial real estate developer owning ~95M sq ft across logistics, manufacturing, and build-to-suit campuses. Closely comparable to IRG in private long-term-hold model, build-to-suit for Fortune 100 tenants, and large-footprint campus strategy.
• Hillwood: Privately held industrial and mixed-use developer (Ross Perot Jr.) with a portfolio spanning industrial parks, corporate campuses, and adaptive reuse. Comparable to IRG in private long-cycle development, public-private partnership orientation, and adaptive reuse of obsolete assets.
• Terreno Realty: Public U.S. industrial REIT (~17M sq ft) focused on infill industrial in six major coastal markets. Comparable to IRG in industrial focus and tenant quality orientation, though much smaller scale.

Broad incumbents

• Prologis: Largest global industrial REIT with ~1.2B sq ft across logistics, manufacturing, and data center facilities. Comparable to IRG as the scaled public-market benchmark for industrial real estate value, against which IRGT will trade and compete for build-to-suit mandates.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/IRG_LLC
• Facebookfacebook.com/IndustrialRealtyGroup
• LinkedInlinkedin.com/company/industrial-realty-group-llc

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Industrial Realty Group