Massive food distribution center sold

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

CB Richard Ellis brokered the sale of a 648,624-square-foot food distribution center in Atlanta. The value of the transaction was $8.5 million. St. Louis-based Commercial Development Co. acquired the property, located at 605 Selig Drive, which still has 408,624 square feet available for lease. Alterman Properties sold the asset. Commercial Development Co. also recently acquired a similar facility in Minnesota and plans to relocate that facility's newer freezer equipment to the Selig Drive building. Until February 2005, the building was leased to SuperValu, a grocery store chain that acquired the Alterman family's Georgia Food Giant stores. Since the expiration of SuperValu's lease, three tenants have leased more than 240,000 square feet. Los Angeles-based CB Richard Ellis is a commercial real estate services company. *** What's your opinion? Send your Letter to the Editor to