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WEST CHESTER, OH-First Industrial Realty Trust Inc. has purchased 10 industrial buildings here in two separate portfolio purchases. The REIT bought the five-building Union Commerce Center for just less than $20 million, a 278,000-sf portfolio comprised of light industrial facilities along I-75. The trust also has acquired the four-building Commerce Park Plaza on Duff Drive and another building on Interocean Drive, reportedly for $3.1 million from Equitable Cos. Inc., based in New York City.

At Union Commerce Center, the buildings range in size from 40,000 sf to 72,000 sf, and serve multiple tenants. A First Industrial spokesman did not return calls by press time about the former owner and tenant listing. The property lease rate is unclear, but the average lease rate for the area is $3.14 per sf, according to a Grubb & Ellis second quarter report. Mike Sullivan with Colliers Turley Martin Tucker confirmed the sale.

First Industrial has also reportedly purchased the Union Township properties, which total about 111,000 sf. Commerce Park Plaza is about 82,000 sf, and includes anchors FUNacho Inc. and Package Supply & Equipment Co. Inc. The Interocean property, in Princeton Industrial Park, is 29,000 sf and anchored by GE Capital Corp. Both are reportedly 90% leased. Brokers at CTMT also represented Equitable in the deal.

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