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by CareyBot

Grubb & Ellis/Oakbrook negotiated the sale of a 348,000-square-foot distribution facility in Madison, Wis. The transaction was valued at approximately $7.3 million. Newell Rubbermaid sold the property to Certco Inc., a Fitchburg, Wis.-based grocery distribution company. The property, located at 4802 Femrite Drive on 35 acres, was formerly occupied by Eldon, a division of Newell Rubbermaid. The single-story masonry building was constructed in 1989 and 1996, and has 5,000 square feet of office space, 24- to 27-foot clear ceiling heights, 21 truck docks, and parking for more than 90 vehicles and 100 trailers. Occupancy is scheduled for the first quarter of 2007. Grubb & Ellis/Oakbrook is an affiliate of Los Angeles-based Grubb & Ellis Co., which provides commercial real estat...