Search
 

Duke-Weeks Nets $370 Mil in $789-Mil Industrial Joint Venture

ATLANTA-The deal with affilates of J.P. Morgan Investment Management Inc. and General Motors Asset Management includes 17 properties in the metro area totaling 2.57 million sf and 58 acres of undeveloped land with a development potential of 800,000 sf.

By Judith Schonbak | Updated on October 04, 2000

ATLANTA-Duke-Weeks Realty Corp. has joined forces with affiliates of J.P. Morgan Investment Management Inc. and General Motors Asset Management in a $789-million industrial properties joint venture. The Indianapolis, IN-based company netted $370 million from the transaction.

Duke-Weeks sold or contributed to the existing venture $459 million of industrial property and $30 million of undeveloped land. J.P. Morgan Investment contributed $43 million of industrial properties.

The assets include 129 buildings totaling 21.8 million sf in seven markets. Also in the package are 300 acres of undeveloped land with an estimated development potential more than 5 million additional sf.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.