REIT gains warehouse space in Texas

Secures electrical products distributor as tenant

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Binswanger represented Central Fidelity Properties, a part of Wachovia Bank, in the sale of a 395,970-square-foot property in Athens, Texas. The value of the transaction was $6.2 million. The one-story property is located at 1651 Enterprise Drive in the Athens Medical Manufacturing and Technology Park. First Industrial Acquisitions Inc., a Chicago-based REIT and developer, purchased the property. It will lease the space to Square D, a division of Schneider Electric of Paris, France. Square D specializes in NEMA-type electrical distribution and industrial control products, systems and services. CB Richard Ellis represented Square D in this transaction. Philadelphia-based Binswanger is an international, full-service real estate organization. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....