Industrial Realty Group Acquires a Nearly One Million Square Foot Portfolio in St. Cloud

(KNSI) — Industrial Realty Group has purchased a nearly one million square foot industrial portfolio in St. Cloud.

IRG says it will revitalize and repurpose the eight buildings spread out across 965,134 square feet that were once home to the Publisher’s Clearing House. In April, it was announced that the St. Cloud Fulfillment Distribution Center would close after PCH discontinued its mail-order business. PCH is known for its sweepstakes promotions and has announced job cuts at its facility in New York as the company moves away from physical direct mailings.

As PCH vacates the space soon, IRG says the acquisition offers a prime opportunity for redevelopment and leasing. It plans to attract tenants, including flex, distribution, warehousing and manufacturing companies. IRG already has 4.8 million square feet of industrial space across the state, most notably in Rochester at its Technology Campus.

IRG’s Chief Investment Officer Justin Lichter says the company is “excited to leverage our expertise in revitalizing industrial properties to bring new economic opportunities to St. Cloud. By working closely with local stakeholders, we aim to create a thriving industrial hub that benefits the community.”

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