1/2/2008

ORIX acquires three building portfolio from Lexington Realty

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701 Brookfield Parkway

6500 Adelaide Court

Lexington Realty Trust has sold a portfolio of three net leased buildings in Ohio, South Carolina and Pennsylvania to Chicago, Ill.-based ORIX Real Estate Capital. The portfolio contains 1,055,194 square feet and is fully leased.

Lexington Realty was represented by three brokers in the transaction: John Huguenard of Colliers Turley Martin, Michael Hines of CB Richard Ellis' Wayne, Pa., office and Ryan Clutter of CB Richard Ellis' Charlotte, N.C., office.

The portfolio contains the following properties:
- A 507,634 square foot industrial building at 6350 Brackbill Blvd., in Mechanicsburg, Pa. The single-story building was built in 1986 as a build-to-suit for Exel Logistics, which currently occupies the entire building. 6500 Adelaide Court
- A 354,676 square foot warehouse at 6500 Adelaide Court in Groveport, Ohio. Built in 2002, the building is 100 percent occupied by Anda Pharmaceuticals.
- A 192,884 square foot office building at 701 Brookfield Parkway in Greenville, S.C. The three-story office building was a build-to-suit for Verizon Wireless in 2002.

Huguenard is a principal and senior VP with Colliers and is on the company's board of directors. He is a member of the Boy Scout Fund-Raising Committee and received his B.S. in Personnel Management and Labor Relations from Indiana University.

Hines is an executive VP with CBRE and has been with the company since 2004. He is a former senior director with Cushman & Wakefield and was a member of the company's Broker Advisory Board from 2000 until 2004.

Clutter is an investment sales specialist in CBRE's Investment Properties Group in Charlotte and specializes in office and industrial properties. Prior to that, he was a member of the company's Carolina Corporate Services Group. He has been with CBRE since 1996 and was recently involved in the $171 million sale of Charlotte's Interstate Business Park, a 162,763 square foot office property.

Size: 1,055,194 square feet

Built: 1986, 2002

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Filed Under: Mixed Use

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