Jim Carpenter, senior vice president with Trammell Crow Co.'sCapital Markets Group, was part of the team that oversaw themarketing and disposition of the assets for the seller, a privateinvestment group. He tells GlobeSt.com that the properties werepackaged as a portfolio rather than individual assets to maximizediversification.

"I like to call it a virtual industrial or office park,"Carpenter says. Comparing it to the purchase of an actualindustrial or office park, the portfolio sale consists of severaltenant types and various lease expirations. Average lease termsrange from two to 20 years while the average size of the propertiesis 175,000 sf. Tenants included Apria Healthcare, Bausch &Lomb, GlaxoSmithKline, West Marine and Xerox Corp.

Carpenter tells GlobeSt.com that JFR financed the portfolio withan 80% loan-to-value "and they intend to collect the leveraged cashflow." A entity of JFR Global, located in Brooklyn, NY, madeheadlines in December when it purchased 10 Norden Place, a612,199-sf business park and development site situated on two lotstotaling 78 acres in Norwalk, CT. The company paid $87 million forthe building and 37.21 acres.