Bridgestone/Firestone Sells 2.2M-SF Industrial Asset

DECATUR, IL-Nashville’s Bridgestone/Firestone has sold its 2.2 million-sf industrial building here to New Jersey-based industrial property investment firm Queen Anne Realty LLC for an undisclosed price. The property, situated on 153 acres, has been empty for more than a year.

Binswanger/CBB senior vice president Bob Wall represented Bridgestone/Firestone in the transaction. Jaime Weiss negotiated on behalf of Queen Anne Realty. Asking price for the property was $16 million, and while the sale price has not been disclosed, Wall tells GlobeSt.com the asset “was bought very attractively.”

Bridgestone/Firestone hired Binswanger/CBB to market the property last spring and, despite having to overcome a few challenges presented by the massive facility, Wall says the transaction was concluded smoothly and on schedule.