VIZZDA—June 12th, 2012 -- Industrial Income Trust
(IIT)—a non-traded REIT administered by Black Creek Group in Denver, CO—has
completed the acquisition of Tolleson Distribution Center I for $15,162,264 or
$49.77 per square foot. The property consists of 304,668 square feet of
industrial warehouse and distribution center on 13.96 acres at the southeast
corner of I-10 and 99th Avenue. This is the second major industrial
acquisition this quarter by IIT following their May 11th purchase of
Riverside Industrial Complex for $131.662m, featured here.
Prologis--an industrial REIT--through its managing director Michael
Blair, previously acquired the property for $9.95m or $32.66 per square
foot August 9th, 2011. At that time the facility was fully leased
by Reckitt Benckiser, a European consumer goods manufacturer who has since
vacated. Prior to Monday's sale, Prologis leased the space to TJ Maxx for an
undisclosed amount.
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By:
Paul Dionne
Research Analyst
pdionne@vizzda.com
Edward Moore
Research Analyst
emoore@vizzda.com
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