$134.5 million industrial deal completed

H&R REIT purchases portfolio across 3 states
Published on Nov 18, 2005

Grubb & Ellis Co. announced that H&R REIT, a Canadian real estate investment trust, has purchased a 2.2 million-square-foot industrial portfolio for $134.5 million. The portfolio, which is 100 percent leased to Nestle USA, Inc., was sold by a Los Angeles-based private investment partnership. The portfolio consists of three distribution buildings on 276.6 acres located in Dekalb, Ill. (Chicago submarket); Dallas-Fort Worth, (Alliance submarket); and McDonough, Ga. (Atlanta submarket). The portfolio is leased to Nestle through Dec. 31, 2011. The properties, which were built in 1992 as distribution centers for Nestle, are located at: 800 Nestle Court, DeKalb, Ill. – 860,939 square feet 13600 Independence Parkway, Fort Worth, Texas – 524,252 square feet 1 Nestle Court, McDonough, Ga.– 782,565 square feet Los Angeles-based Grubb & Ellis Co. represented H&R REIT in the transaction, while Philadelphia-based Corvest Realty Inc. represented the seller....

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