(Read more on the industrial market.)
PHOENIX-A Dallas area company has entered the market through itsacquisition of a two-property, 359,031-sf portfolio. The new ownerpaid $22.8 million to First Industrial Realty Trust Inc. for theeight-building portfolio, and is looking for more property inPhoenix.
Joe Porter, senior vice president with CB Richard Ellis Inc.,represented seller First Industrial Realty Trust Inc. and saysCobalt Capital Partners LP through its industrial REIT affiliatebeat out close to a dozen offers to take possession of the27-year-old portfolio. The properties are the 302,346-sf Van BurenDistribution Center at 10 S. to 240 N. 48th Ave. and the 56,685-sfWatkins Distribution Center at 115-135 E. Watkins St.
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