Contact Information: Media Contacts: David Gutierrez Dresner Corporate Services 312-780-7204 dgutierrez@dresnerco.com Joshua Taustein Dresner Corporate Services 312-780-7219 jtaustein@dresnerco.com
WexTrust Capital Acquires Warehouse Distribution Center in Hammond, Louisiana
Strategic Location Enables Corporations to Serve New Orleans, Baton Rouge and the Entire Gulf Coast Region
| Source: WexTrust Capital, LLC
CHICAGO, IL--(Marketwire - July 18, 2007) - WexTrust Capital, through its affiliate Hammond
Industrial Holdings, LLC, announced that it has acquired the
710,603-square-foot Pride Drive Business Center in Hammond, La. The
property is located on approximately 107 acres of land and is currently 100
percent occupied by Liquid Container, Entergy, DuPont Performance
Elastomers, Victory Packaging, and Penske Truck Leasing.
In the months following Hurricane Katrina, Hammond has become the nexus of
two large metropolitan areas, benefiting from a surge in population and
development largely due to its ideal location between New Orleans and Baton
Rouge at the intersection of two major interstate highways: I-12 and I-55.
Several large companies have already recognized Hammond and the I-12
Corridor for its location, as evidenced by the presence of large warehouse
and distribution centers for Home Depot, Wal-Mart, Folgers Coffee, Cardinal
Health, 84 Lumber, and Winn-Dixie.
"Pride Drive Business Center is a well built facility with a great location
and a strong tenant roster. Plus, its acreage offers plenty of room for
future development," said Mike Gorney, principal of WexTrust Equity
Partners, a division of WexTrust Capital. "We look forward to showcasing
all of the warehousing, distribution and production benefits of this
property to prospective tenants."
The building is constructed of precast insulated concrete panels, with an
internal ceiling height of 38 feet in 75 percent of the building. It also
offers 117 truck docks and 23 paved acres for parking and outside storage.
Rail service to the building is provided by the Canadian National Railway,
with access to five main-line railroads. The property also is nearby five
interstate exits, the Hammond Municipal Airport, and a barge loading
facility at Port Manchac which handles bulk and containerized cargo.
WexTrust Capital also announced plans to potentially add up to three
buildings on the site totaling 400,000 square feet. The first building,
which has already been designed, will contain 100,000 square feet.
Negotiations are already underway with a large user.
About WexTrust Capital
WexTrust Capital is a globally diversified private equity and specialty
finance company with a proven track record for protecting its clients'
assets and delivering a superior return-on-investment through its diverse
portfolio of principal investments. WexTrust Capital specializes in unique
investment opportunities ranging from real estate to specialty finance and
investment banking. Headquartered in Chicago, the company also maintains
offices in New York, Norfolk, Va., Atlanta, Boca Raton, Fla., Nashville,
Tenn., Tel Aviv, Israel, and Johannesburg, South Africa. More information
can be found at www.wextrust.com.