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Friday, May 18, 2012 Industrial
Denver-based DCT Industrial purchased a 193,133 square foot industrial facility in Groveland, Fla., for $12.2 million from LaSalle Investment Management. Frank Fallon, Chris Riley and Brian Budnick of CB Richard Ellis' Atlanta Industrial Group handled the negotiations for LaSalle. Built in 1997, the property is located at 7730 American Way, approximately two miles from U.S. Highway 27. The facility is a bulk distribution center for Embarq Logistics, which holds a lease through October 2012. LaSalle purchased the property for $10.7 million in December 2006 from the California State Teachers Retirement System. The sale includes 50,000 square feet of additional outside storage. DCT Industrial is a real estate company specializing in ownership, acquisition, development and management of bulk distribution and light industrial properties. LaSalle Investment Management is a wholly owned, but operationally independent, division of Jones Lang LaSalle Inc., a real estate brokerage and investment firm. CB Richard Ellis' Atlanta Industrial Group represents industrial property owners, users and investors throughout the Southeast. Address: 7730 American Way, Groveland, Fla. Size: 191,133 Built: 1997 Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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