The San Diego-based buyer provides real estate development services and acquired the property to accommodate an unidentified client's requirements. CalEast is a real estate operating company whose members also include Chicago-based LaSalle Investment Management, which is a member of Jones Lang LaSalle Group; and CalPERS, the California Public Employees' Retirement System, based in Sacramento, CA.
Dan Thommasson, chief investment officer, and Ed Brickley, northeast regional manager of CalEast, assisted in the transaction. Jack Shepley of Industrial Properties Group of NAI/CIR represented CalEast in the negotiations. Raymond A. Stache and Steve Cooper, both senior directors of Cushman & Wakefield of Georgia, represented the buyer.
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