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5M-SF Industrial Portfolio Hits Market for $255M

SPARTANBURG, SC-Johnson Development Associates taps CB Richard Ellis to sell its Carolina industrial portfolio, which spans several cities in South Carolina and North Carolina.

By Melissa Kress | Updated on May 01, 2007

(Read more on the industrial market.)

SPARTANBURG, SC-Locally based Johnson Development Associates is putting five million sf of class A+ industrial space on the market, and it has selected CB Richard Ellis to find a buyer. The Carolina industrial portfolio carries a target price of $255 million and is spread across South Carolina and North Carolina.

Johnson Development Associates has decided to sell the holdings as a way “to monetize their existing portfolio so they can redistribute their funds into new developments,” a CBRE spokeswoman tells GlobeSt.com, including the continuation of their “port play,” capitalizing on the global supply chain.

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