The multinational tenant will be using its new space in thefacility, called Gateway at Riverside, to consolidate its regionaldistribution operations and maximize operating efficiencies. The800,000-sf warehouse, which was constructed in 1990 as abuild-to-suit for GE Appliance, has been newly renovated. As partof its lease, P&G retained the option to expand to fullcapacity. Located in Hartford County, the 30-foot clear tilt-updistribution warehouse sits on 46 acres.

An affiliate of Preston Capital Management, Preston Waters andUrdang purchased the property in Jan. 2005. David Scheffenacker ofPreston Waters, says in a prepared statement that "the fact thaninternational company such as Procter and Gamble chose our propertyover the many others available speaks volumes about the quality andfunctionality we offer our tenants at Preston Capital ManagementInc." Preston Waters did not return a call in time for deadline.Pellington was not available for comment.