FT.LAUDERDALE-In a rare bit of good news for the industrial market, Industrial Developments International (IDI), an Atlanta-based commercial real estate company, in a joint venture with institutional investors advised by J.P. Morgan Asset Management, sold four of the six buildings in the 1.1 million square foot Weston Business Center in Weston, Fla. near Ft. Lauderdale. The price was $65 million, or $96 per square foot for 679,918 square feet.

The buyer was RREEF, the real estate investment management business of Deutsche Bank’s asset management division. The sale closed about two weeks ago. RREEF purchased the buildings on behalf of an institutional client.

There is a contract on the other two buildings at the Weston Business Center which is scheduled to close sometime in June, according to a source who wants to remain anonymous

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