The seller is WW Grainger, the manufacturer and distributor offacility-related products for commercial, industrial and otherusers. Terms of the sale, including the sale price, were notdisclosed. Industry sources estimate that the asset traded for anumber in the $15-million range.

With the sale, the asset has come full circle: Matrix built thebuilding for Grainger, which has been using it for warehousing anddistribution purposes, in 1995. The closing of the acquisition alsocoincides with Grainger's relocation later this year to a new,436,000-sf facility being built for the company by Matrix withinthe latter's Northeast Business Park in Washington Township,NJ.

"This transaction reflects our strategy of continuing to buildour portfolio by acquiring and developing assets in the 8Amarketplace," according to Gary Hans, vice president ofacquisitions for Matrix.