CoStar Web Site - December 19, 2005
H&R REIT of Ontario, Canada purchased three industrial buildings in Atlanta, GA, Chicago, IL, and Fort Worth, TX from The Cardinal Co. and its affiliates for approximately $141.5 million, or about $64 per square foot. All three industrial buildings are leased to Nestlé USA Inc. at an average of 12 years.
The buildings acquired in the sale are at 1 Nestlé Court in McDonough, GA (782,565 square feet), 800 Nestlé Court in DeKalb, IL (860,939 square feet) and 13600 Independence Parkway in Fort Worth (524,252 square feet).
Terry Reitz, Kevin Shannon, Bruce Granger, Gary Lindsey and Dave Watson of Grubb & Ellis, along with Asher Hyman of Corvest Realty Group, represented the seller. The buyer had in-house representation.
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Wednesday, December 21, 2005
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