A spokesman with the Indianapolis-headquartered company declined to share specific details of the pending sale, only to confirm that the asset is under contract to a buyer. He tells GlobeSt.com that the sale would likely close upon the project's completion, which is estimated for Q3 2008. The broker involved with the sale is John Huguenard with Colliers Turley Martin Tucker, based in Indianapolis.
Though a sales price is not available, similar industrial projects have traded for between $50 and $55 per sf. The facility is being constructed on 87 acres on US 7, just east of Batesville, and one-quarter mile from Interstate 55. It's anticipated that the plant could employ up to 100 workers within 18 months. Once completed, the facility will be the largest manufacturing plant in Panola County.
General Electric Corp., headquartered in Fairfield, CT selected Duke Realty to develop the facility less than six months after announcing that Batesville would be its location. General Electric has signed a long-term deal for the space with Duke.
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