This article is from the Australian Property Journal archive
JF US Industrial Trust has sold an industrial property in the United States for $US4.11 million.
Located at 1560 Frontenac Road in Naperville, Illinois, the property has been purchased by an owner/user, Anchor Bolt and Screw Company.
The Frontenac Road property comprises 85,608 sq ft of lettable area and is partially leased (30,000 sq ft) to Integrated Logistics Solutions until June 2009.
After settlement, Anchor will occupy the current vacant area of 55,608 sq ft.
Upon completion of the sale, which is scheduled to occur in November 2006, the trust will recognise a profit of $US409,000 (before costs) over the purchase price of $US3.70 million.
The sale equates to $US48 per square foot, an increase of 11.1% over the acquisition price of $US43.20 per square foot. The trust’s vacancy rate will reduce by 0.3% to 11.7%.
By Adam Parsons
