9/21/2007

CB Richard Ellis Realty Trust acquires $214M industrial portfolio

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304 John Martin Rd., Spartanburg, S.C.

Fairforest Business Center

CB Richard Ellis Realty Trust has acquired a 4.2 million square foot industrial portfolio from affiliates of Johnson Development Associates for $214.7 million.

The portfolio contains 30 distribution and light manufacturing buildings located in Greenville/Spartanburg and Charleston, S.C. and Charlotte and Winston-Salem, N.C.

Johnson Development developed the buildings that were 90 percent leased at the time of sale. Major tenants of the portfolio include Hoke, Inc., Tyco Electronics, EchoStar Satellite, Trans-Hold, Inc., Lear Corporation and Southeastern Container, Inc.

Included in the portfolio is Jedburg Commerce Park in Berkeley County, S.C. It contains a newly built 512,686 square foot assembly plant and headquarters operation for American LaFrance, an emergency vehicle manufacturer.

CB Richard Ellis Realty Trust invests in office, retail, industrial and multifamily properties across the United States and is sponsored by CB Richard Ellis Investors LLC.

Johnson Development is a real estate development corporation that develops, leases and manages industrial and commercial real estate.

Size: 4.2 million square feet

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Filed Under: Industrial

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