Friday, September 01, 2006

ING Clarion acquires Procter & Gamble Distribution Center in Illinois

ING Real Estate Web Site - August 29, 2006

ING Clarion, a leading real estate investment advisory firm, announced today that it has acquired the Procter & Gamble Distribution Center in Edwardsville, Illinois for $27.4 million. The transaction, which was structured as a sale/leaseback with Procter & Gamble, was made on behalf of a separate account client advised by ING Clarion.

The Procter & Gamble Distribution Center is located in the Gateway Commerce Center in the St. Louis east submarket, one of the two largest distribution facilities in the greater metropolitan area. The facility is approximately 20 minutes from downtown and close to the intersection of Interstates I-55 and I-70. A single 806,400 square foot, state of the art warehouse, the center was built in 2001 to help meet Proctor & Gamble's expanding distribution needs. As the key distribution point for the company's fabric and home care products division, P&G will remain the sole tenant of the facility for up to 10 years. Sphere: Related Content

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