CINCINNATI-Chicago-based Inland American RealEstate sold a 970,000-square-foot complex to SKRealty Management of New York, NY for $46.9 million. Thecomplex, at Union Centre Commerce Park, serves asCornerstone Brands' corporate headquarters,distribution facility and retail outlet.

Located along the Interstate 75 corridor between Cincinnati andDayton, the complex has been Cornerstone Brands' home since itscompletion in 1999. The facility consists of of 755,000 square feetof warehouse and distribution space, 153,190 square feet of officespace and 61,800 square feet of retail outlet space. The propertysits on more than 57 acres.

Suzanne Martinez, principal and MattHoffmann, associate director of AvisonYoung’s Chicago Capital Markets division, representedInland in the transaction. “This transaction, and all that wasinvolved, is indicative of an improving market for investmentproperties of this size and magnitude,” Martinez comments in apress release. “Banks are beginning to lend again and the gapbetween buyer and seller expectations—the bid asking price—isnarrowing. All of that is a good sign for commercial realestate investment activity.”