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RICHMOND, VA-A 60-40 joint venture between the Adler Real Estate Fund and TriGate Capital has purchased the Byrd Center Business Park, a 32-acre site, for $26 million. Adler CIO Matthew Adler tells GlobeSt.com that the facility, a 475,000-square-foot, ten-building industrial property complex located in the airport industrial submarket, traded at 9% plus cap rate. The property was purchased off market through an introduction made by the buyer’s broker, Thalhimer VP Eric Robison.

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