SOURCE: Becknell Industrial

Becknell Industrial

July 22, 2013 08:02 ET

Becknell Industrial Announces $34 Million of Acquisitions

CHICAGO, IL--(Marketwired - July 22, 2013) - Becknell Industrial announced today $33.8 million of new acquisitions at an average cap rate of 8.5% during the first half of 2013.

The Company continued its strategy of utilizing its strong balance sheet to acquire additional industrial property throughout the U.S. Properties acquired totaled nearly 700,000 square feet and were 100 percent leased. These included:

  • In Jacksonville, Florida, a 240,000 square foot distribution facility leased to PenserSC, a century-old provider of complete logistics solutions;
  • Also in Jacksonville, a 240,000 square foot distribution facility leased to Samsonite, the world's largest luggage company; and
  • In Minneapolis, Minnesota, a 195,000 square foot distribution facility leased to Gannett Company, a publicly traded media and marketing solutions company.

"2013 is off to a great start as we continue to execute on the acquisition piece of our business plan. With the recent addition of Kelly Martin to strengthen our investment team, we look forward to sustaining this momentum throughout the remainder of the year," said Mark Shapland, Executive Vice President - Chief Operating Officer."

About Becknell Industrial

Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. The company currently owns interests in 95 properties totaling 8.8 million square feet. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell is available at www.becknellindustrial.com.

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