(To read more on the industrial market and the netlease market, clickhere.)

LOS ANGELES-CB Richard Ellis Investors has acquired afive-property industrial portfolio in four states from locallybased Bentley Forbes for $80.5 million. The warehouse anddistribution buildings, which are all 100% occupied by globallogistics provider Kuehne & Nagel, are in Chicago, Boston,Atlanta and Raleigh, NC.

David Cobb, president and CEO of BentleyForbes, calls the deal astrategic disposition for the company and describes the propertiesas "high-quality, net-leased warehouse buildings." Proceeds fromthis and other sales will go toward expanding the Bentley Forbesportfolio of class A office properties and luxury hospitalityassets, although the company continues to consider somesingle-tenant acquisitions.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications
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.