The 624,000-sf distribution center is one of several Wardwarehouses eRealty would like to acquire now that the retailer isin bankruptcy. Miller told GlobeSt.com that his firm is notinterested in all of their centers, about seven in all, but selectproperties.

The local center sits on 55.6 acres on Cedarville Road. Millersaid the property could be expanded to 800,000 sf, but eRealtywould only do that if a tenant wanted to expand. CB Richard Ellisis the broker for the property.

This may be the first deal in this region for eRealty, but itwon't be the last. Miller said that during the firm's due diligenceon the property, it became familiar with the region, and would liketo do as much as $60 million of acquisitions here.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.