"This acquisition is a demonstration of First Industrial's continued commitment to the northeast industrial market," says Greg Downs, managing director for First Industrial. "We are actively looking for new acquisition opportunities and we hope to be closing more deals like this throughout 2002. The brokers at Fuller and Co. and Frederick Ross did an outstanding job of staying with the deal and anticipating both parties needs."
The building at 18150 E. 32nd Place, located near the intersection of Interstae 70 and Tower Rd., features excellent clear height, and direct exposure to I-70, he says.
"The building presented a unique office/showroom opportunity in an established park," Downs says.
The facility won a NAIOP award in 2000 for Building of the Year.
Jim D'Angelo and Jim Capecelatro of Fuller and Co. represented First Industrial in the transaction. Jason Addlesperger of Frederick Ross Co. represented Sabey Corp.
First Industrial Realty, Inc., the nation's largest provider of diversified industrial real estate, currently owns, operates and manages 84 million sf, including 5 million sf in Colorado.
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