A $71-million leaseback was arranged by the Jackson IDB, with Carlisle agreeing to pay principal and interest on the debt through 2028. Jones Lang LaSalle's Development and Asset Strategy team handled the sale of the industrial property.
Scott Miller, managing director with Chicago-based Jones Lang LaSalle, says Benton Harbor, MI-based Whirlpool will now be able to consolidate its dishwasher production operations into its existing plant in Findlay, OH while monetizing its Jackson plant, which ceased operation in August. Miller worked with another managing director, Scott Cullen, on the Whirlpool deal.
"When we decided to sell, we knew the importance of finding a buyer with the same community interests and ideals," adds Jeff Noel, Whirlpool corporate vice president of public affairs. "We have found that in Carlisle."
Whirlpool's Jackson plant is comprised of four interconnected buildings at Madison Technology Park in Jackson. The class A facility offers rail access and is convenient to Interstate 40, giving it an advantage as a distribution hub.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
