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Brightpoint pays $31M for distribution facility

December 17, 2009

Indianapolis-based Brightpoint Inc. has closed on a $31 million deal to purchase its 495,000-square-foot distribution facility in Plainfield.

Chicago-based Jones Lang LaSalle Inc. announced the closing Wednesday.

The global wireless device distributor had been leasing the facility at 501 Airtech Parkway. The property was developed for Brightpoint and includes 105,000 square feet of office space.

The seller was Denver-based ProLogis.

Brokers with Chicago-based Jones Lang LaSalle, who represented Brightpoint, said the deal, which closed in November, is a good example of a trend they’re seeing: corporate tenants taking advantage of a down market to buy their leased space.

“Owning versus leasing this property allows them the maximum flexibility at this site, and allowed Brightpoint to eliminate future lease payments,” said Jay Koster, JLL’s managing director.

Owner-occupiers are becoming more common as fewer investors are in a position to bid on properties. In a November auction of surplus Duke Realty Corp. development parcels, including industrial land, five out of seven parcels that sold went to end users.

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