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Thursday, November 20, 2008 Industrial
First Industrial Realty Trust Inc., a leading provider of industrial real estate supply chain solutions, has acquired a 405,000-square-foot distribution center in the Atlanta market from The Hershey Co. through a sale-leaseback transaction. The First Industrial team was lead by Kent Mason, regional director of First Industrial's Atlanta office, and David O'Reilly, investment officer for First Industrial's East region. First Industrial's Development and Repositioning Joint Venture completed the investment with the California State Teachers' Retirement System. CB Richard Ellis Investors is the advisor to the California State Teachers' Retirement system on the venture. Located in the I-75 Northwest submarket of Atlanta, the distribution center is in a submarket with one of the lowest vacancy rates in the Atlanta region and very little developable land. First Industrial Realty Trust will reposition the facility, reconfiguring the layout and adding more office space, to serve the distribution needs of two to three customers. Size: 405,000 square feet Filed Under: Industrial E-mail this article to a friend | Printer friendly format| DIGG this| Post to del.icio.us Comments on this article
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