Baum Realty Group Inc. represented a Michigan-based private investment firm in the sale of a $67.8 million office and industrial property portfolio spanning six states.
The portfolio, which includes eight industrial and three office properties, totals more than 2.7 million square feet of space. Individual properties range in size from 63,630 square feet to 106,000 square feet for the three single-tenant office buildings and from 110,000 square feet to 552,885 square feet for the eight industrial and manufacturing facilities.
Evergreen Development LLC, a California-based tenant-in-common investor, acquired the portfolio. Four of the properties are located in South Carolina and three are located in Georgia. Additional states where properties are located include Alabama, Oklahoma, Pennsylvania and Virginia.
All of the properties in the portfolio were occupied on a net lease basis at closing to Springs Global US Inc., a home furnishings manufacturer and marketer. Among the brands manufactured and marketed by Springs Global include Wamsutta, Springmaid, Court of Versailles, Burlington House, Regal, Nanik, Graber, Bali and Daisy Kingdom.