Constructed in 2001 as a build-to-suit, the asset occupies a 46.3-acre site within the Greater Cincinnati Northern Kentucky submarket and sits adjacent to 20 acres of Alter Group-owned land. According to the terms of the deal, if Thomson decides to develop the adjacent land, Schmier's group will purchase the parcel, which and the Alter Group will build the new facility. The combined properties can accommodate up to 1.3 million sf of space. Financial terms of the sale have not been disclosed.

According to EnTrust managing principal James I. Clark III, the main challenge to the development plan was finding a buyer willing to acquire the existing structure and commit to the adjacent property as well. "Once the building was completed and the lease was in place, the plan was to take advantage of the current market for high-credit, long-term leases," Clark tells GlobeSt.com. "The goal was to find a buyer who would purchase the expansion space and commit to developing it; one who would buy what was already done and would also step up to the plate and commit and buy the additional space, which would give the Alter Group the right to develop."

The existing structure includes a 775,000-sf single-story warehouse and 60,000 sf of office space. At 1,200 feet long and 600 feet wide, it is easily divisible into segments that can be leased to multiple tenants as distribution operations, call centers and light assembly firms.