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CBRE REIT Pays $41M for 1M-SF Industrial Facility

WILMER, TX-The recently-completed warehouse building is 100% leased to Whirlpool Corp. for the next 10 years.

By Jennifer Duell Popovec | Updated on June 09, 2011

WILMER, TX-CB Richard Ellis Realty Trust has acquired a 1.02-million-square-foot warehouse/distribution building for $40.78 million. The estimated acquisition cap rate for the property is 7.8%.

The property, located at 500 South Millers Rd. in this southern suburb of Dallas, is leased to Whirlpool Corp. though May 2021. It is situated in First Park DalPort, a 365-acre industrial park, adjacent to I-45, six miles from I-20 and a short distance from I-35. In addition, the site is located approximately one mile south of the Union Pacific intermodal terminal but also has direct rail access with a dedicated spur on-site.

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