Tom Clarke, senior vice president of Grubb & Ellis Co. inDallas, tells GlobeSt.com that the buyer has cut a five-yearsale-leaseback with Osram Sylvania Products Inc. so no new productwill come out of the ground for some time. The extra land and thelong-term tenant sewed up the acquisition for Columbia MackenzieIndustrial LP of Dallas. Thirty days is all it took to get the dealsigned, sealed and delivered, says Clarke.

The near "20-something" warehouse at 2040 McKenzie Dr. was abuild-to-suit for Sylvania. which has and will continue to use thesite to distribute light bulbs. The holding is positioned in theheart of an industrial park that boasts a multitude of owners,including the unidentified investors who added the Osram buildingto their portfolio.

The buyers got the property for about $1 million less than itsappraised value, according to the Dallas Central AppraisalDistrict. But the price, emphasizes Clarke was not the decidingfactor; it was definitely the sale-leaseback and ample land.