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JV Sells 10 Buildings for $106M-Plus

COLUMBUS, OH-A joint venture between the Pizzuti Cos. and Nationwide Realty Investors trades a 10-building industrial portfolio for $106.5 million. The buyer is Denver-based Dividend Capital.

By Dana Dubriwny | Updated on May 24, 2006

(To read more on the industrial market, click here.)

COLUMBUS, OH-Denver-based Dividend Capital has purchased a 10-building industrial portfolio for $106.5 million. Sold by the joint venture of the Pizzuti Cos. and Nationwide Realty Investors, the buildings total approximately 2.7 million sf and are located south of Columbus, in Grove City and near Rickenbacker International Airport.

Joel Pizzuti, president and COO of the Pizzuti Cos., says the time was right to sell a portion of the company’s assets. “We were able to negotiate a deal that was beneficial to all parties involved, and Pizzuti is now in an ideal position to seek out new development opportunities,” he says.

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