Industrial Income Trust, an industrial real estate investment trust, has bought a distribution and warehouse portfolio for $195.5 million, CoStar Group reports. The assets were sold by Ridge Property Trust and Prudential Real Estate Investors.
Stephen Silk and Jay Borzi of Eastdil Secured were the listing brokers for the deal. The buyer was self-represented. The buildings are about 98 percent-rented, with 16 tenants including Harbor Freight Tools, M. Block & Sons, Don Miguel Mexican Foods and Glazier Foods Co.
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