A Canadian real estate company has entered Plainfield’s robust logistics and distribution market with a $68.7 million deal to buy two mammoth facilities and a prime plot of land.
Granite Real Estate Investment Trust said Monday that it has agreed to buy three properties in the Plainfield area from Ingram Micro Inc.: a 500,000-square-foot building at 501 Airtech Parkway, a 533,520-square-foot building at 1451 Allpoints Court in AllPoints Midwest Business Park, plus an adjacent 29.8-acre plot of land for further development.
Ingram Micro, a California-based firm that manages supply chains for infotech products, will continue to occupy the two buildings and lease them for 10 years, according to Granite.
The investment will be funded with Granite's line of credit and cash on hand. The transaction is scheduled to close on or about Dec. 30.
Granite is a Canadian-based REIT engaged in the ownership and management of predominantly industrial, warehouse and logistics properties in North America and Europe. Granite owns approximately 30 million square feet in over 100 rental income properties.