Jones Lang LaSalle today announced it has completed negotiations on the portfolio sale of seven Federal Express distribution facilities spanning from Maine to Idaho.
Individual entities of Berkshire Acquisition LLC sold the buildings to individual entities of Federal Acquisition LLC for a total price of $52.3 million.
The Federal Express Portfolio consists of seven freestanding Federal Express Ground distribution facilities that were mostly new construction. The initial closing took place on Jan. 17, 2007, and the final one occurred on Aug. 21, 2007.
The square footage of the portfolio was not disclosed.