American Greetings Corp. Unloading 771,000-SF Building

MCCRORY, AR-As part of an ongoing effort to increase efficiency and cut costs in its supply chain, American Greetings Corp. is looking to unload a 770,000-sf distribution facility in McCrory. The world’s largest publicly held greeting cards operation has consolidated the McCory plant’s operations into its 2.6 million-sf facility in Osceola, AR, and its 1.4 million-sf facility in Danville, KY.

Wanting to dispose of the surplus property quickly, the Cleveland-based company is offering up the distribution facility at below market rates, says the broker with the disposition assignment, J. Holmes Davis of Dallas-based Binswanger/CBB.

Sitting on 160 acres on Route 2, the building has insulated metal panel walls, reinforced concrete floors, 24 dock-high doors and ceiling heights to 32′ clear. Some 12,000 sf of the building is built out as air-conditioned office space with a reception area, six private offices, a conference room, a cafeteria and a computer room. The asking price is $8 million, or about $12 per sf, says Davis.