REIT gains warehouse space in Texas

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.

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