MONTREAL, QUEBEC — (Marketwired) — 07/23/13 — Editors Note: There is a photo associated with this Press Release.
(DAC) today announced the sale of the Main Street Distribution Center; a 100 percent leased industrial property, located in Jacksonville, FL.
DAC acquired the property vacant from W.P. Carey (NYSE: WPC) as part of its last opportunistic industrial fund in August 2012. The Main Street Distribution Center is a 240,000 square foot cross-dock, concrete tilt-up distribution warehouse with 32- clear ceiling heights that was built in 1991. DAC extensively renovated and modernized the property and shortly thereafter signed a five-year NNN lease with . Occupying over 1M square feet of warehouse in the area, Jacksonville has become -s central US distribution hub.
Mike Davis and Michael Lerner of Cushman & Wakefield represented DAC in the sale to Becknell Industrial for $8,725,000.
, at says, “The rapid turnaround of this asset exemplifies our commitment to staying focused on our fundamental strategy of acquiring well located, high quality properties with solvable problems at the right price.” Adding, “To completely revamp, lease and sell this property within an eleven month period is truly incredible and speaks volumes about our operations and capital markets teams.”
Over the past 30 months, through its Ashrei Opportunistic Industrial Funds I & II, DAC has closed on 53 buildings and 4MM square feet of land across the US and Canada, making it one of North America-s most active buyers of opportunistic and value-added industrial properties and loans.
About
is an investment arm of the Dalfen Group, a leading private equity real estate firm headquartered in Montreal, Canada with regional offices in Orlando, Dallas, Tampa and Las Vegas. Through its investment funds, separate accounts, and strategic joint ventures, DAC acquires and manages commercials properties and securities throughout North America
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Contacts:
PR Related Inquires
514-938-1043
Capital Markets Related Inquiries
Robert Kurlender
Director of Acquisitions
514-938-8454