The building, at 1520 Lauderdale Memorial Hwy., is GE's largest lighting distribution center in the country and serves some of the world's leading retailers, including Wal-Mart, Lowes and Target. It was built specifically for GE Lighting and operates 24 hours a day, seven days per week, shipping nationally and internationally. Excel Logistics, a division of DHL, has run the facility since 2007. The tenant occupies the entire building.

“This asset, which is a critical location for GE Lighting, provides the stability and growth potential that investors want,” Foster adds.

The distribution center has been upgraded and maintained by GE to meet institutional criteria. The facility has 150 dock doors, 32-foot ceiling heights, T5 lighting, 350 trailer parking spaces and 250 automobile parking spaces.

But best of all, from an investors' standpoint, was that Amazon recently opened up a major distribution center just across the street. “This location was validated by Amazon,” Foster says. “Interest is heightened whenever Amazon is nearby.”

CHICAGO—A Chicago-based team from Avison Young just completed the sale of an 851,370-square-foot General Electric Co . lighting distribution facility in Cleveland, TN. Although it is far from a major city, the property sits along I-75, and products shipped from there can easily reach all points in the Southeast region and the East Coast.

That sparked a lot of interest from investors, most of whom stick to properties in traditional distribution markets. The buyer was New York-based Lexington Realty Trust. Financial details were not disclosed.

“People are realizing that some assets in secondary and non-traditional markets are vital to tenants overall long-term plans,” Avison Young principal Erik Foster tells GlobeSt.com.

Along with Mike Wilson, he represented the seller, Chicago-based SMB Bradley, a real estate private equity firm. Foster and Wilson, both members of the firm's national industrial capital markets group, worked in conjunction with Avison Young principals Sue Earnest in Nashville, and Chris Skibinski in Charlotte, NC.

The building, at 1520 Lauderdale Memorial Hwy., is GE's largest lighting distribution center in the country and serves some of the world's leading retailers, including Wal-Mart, Lowes and Target. It was built specifically for GE Lighting and operates 24 hours a day, seven days per week, shipping nationally and internationally. Excel Logistics, a division of DHL, has run the facility since 2007. The tenant occupies the entire building.

“This asset, which is a critical location for GE Lighting, provides the stability and growth potential that investors want,” Foster adds.

The distribution center has been upgraded and maintained by GE to meet institutional criteria. The facility has 150 dock doors, 32-foot ceiling heights, T5 lighting, 350 trailer parking spaces and 250 automobile parking spaces.

But best of all, from an investors' standpoint, was that Amazon recently opened up a major distribution center just across the street. “This location was validated by Amazon,” Foster says. “Interest is heightened whenever Amazon is nearby.”