IRG Hits Construction Milestone on 612K Sq. Ft. Build-to-Suit for Fortune 25 Tenant
Event summary
- IRG completes wall erection on a 612K sq. ft. build-to-suit project in Auburn, Washington for an unnamed Fortune 25 company.
- Project is part of the larger 129-acre Auburn 18 Business Park, with completion scheduled for early 2027.
- Site features dual rail access (BNSF and Union Pacific), heavy power, and thick slab floors for manufacturing.
- IRG acquired the property from the GSA in 2022 and has since prepared over 1M sq. ft. of space for lease or development.
The big picture
IRG's progress on this build-to-suit project underscores the growing demand for specialized industrial real estate near major ports and transportation corridors. The developer's ability to repurpose former government property into a high-value business park highlights its strategic focus on adaptive reuse—a trend accelerating as companies prioritize supply chain resilience. With over 100M sq. ft. of rentable space nationwide, IRG is positioning itself as a key player in the industrial real estate sector.
What we're watching
- Leasing Velocity
- How quickly IRG can secure additional tenants for the remaining 1M+ sq. ft. of developable space at Auburn 18 Business Park.
- Execution Risk
- Whether IRG can maintain its aggressive construction timeline given the project's scale and complexity.
- Industrial Demand
- The pace at which Fortune 25 companies continue to invest in large-scale, customized industrial facilities in key logistics hubs like Auburn.