Canadian REIT Enters Norcross Market
First Industrial Realty Trust has unloaded a Norcross industrial portfolio. The firm sold its six-building Oakbrook Technology Center portfolio, encompassing nearly 300k SF of flex industrial, for $12.9M, or $43/SF to Agellan Capital Partners. Colliers International's Dennis Mitchell and Matt Wirth brokered the deal. The complex is 95% leased to 28 tenants, including Ackerman Security, Revell Flooring Co and Minton-Jones Co. Agellan financed the buy with $6.2M cash-on-hand from its sale of an Ontario property, according to CoStar.