The party supply and greeting card company has hired Grubb & Ellis Co. to explore its options, which could include staying in its current location, part of the first phase of a $392.7-million portfolio sale by CenterPoint Properties Trust to a joint venture with Australia-based James Fielding US Industrial Trust. Grubb & Ellis senior vice presidents Jerry Bloomstrand, Jack Cozzie and Mark Stables, along with vice president Dominic Carbonari have the assignment to help Factory Card & Party Outlet weigh its alternatives.
The building has 71,025 sf of office space, while the warehouse includes 35-foot clear ceiling heights and 18 docks. The property, valued at $32.3 million in its May sale to the joint venture, also includes 247 parking spaces on its 38.5-acre site.
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