W. P. Carey Inc. Acquires Industrial Property From VanTrust Real Estate For $94.1M

The Rickenbacker Exchange Building 2, a 1.2 million-square-foot distribution center located at 521 Exchange Way in Commercial Point, Ohio, was sold for $94.1 million. The property, developed by VanTrust Real Estate and fully leased to Hanesbrands Inc., features a clear height of 40 feet, four drive-in doors, 120 docks, and 728 parking spaces.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $94,100,000
• Buyer: Jason E. Fox - W. P. Carey Inc.
• Seller: Dave Harrison - VanTrust Real Estate
• Brokers: Alex Cantu & Alex Davenport - Colliers
• Address: 521 Exchange Way, Commercial Point, Ohio
• Market: Commercial Point, Ohio
• Size: 1,200,000 square feet
• Price Per Square Foot: $78

Colliers successfully facilitated the sale of the Rickenbacker Exchange Building 2 to W. P. Carey Inc. in this transaction. The deal was brokered by Alex Cantu and Alex Davenport from Colliers. The property, part of the Rickenbacker Exchange at Commercial Point industrial park, offers extensive amenities to support its industrial operations, showcasing the expertise and negotiation skills of the involved parties.