US Industrial REIT II, which is owned by an affiliate of USAA Real Estate Co. and other institutional investors, has added the Cinram Distribution Center to its portfolio of large scale bulk distribution properties in the US. The REIT purchased the Chicago-area property for an undisclosed price from Cinram Distribution L.L.C., a Canada-based manufacturer of DVDs, CDs and computer software, according to a CPN article.
The 595,000-square-foot facility, located within the Meridian Business Campus in Aurora, Illinois, is a state-of the-art distribution center built in 1997. In addition to the property, the REIT also purchased an additional 11.7 acres of adjacent land. "We are very pleased to be adding this quality asset to the US Industrial REIT II portfolio," cited Pat Duncan, Chairman and CEO of USAA Real Estate Company. "This acquisition marks the REIT's entry into the Chicago marketplace which is considered the industrial capital of the Midwest."
For more news and information, visit Blumberg Capital Partners.
Interesting,
This is an important aquisition of REIT II,
Keep up the good work
Posted by: bespoke software development | January 14, 2010 at 08:36 AM