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Diamond Comics Distributors Bldg Trades for $21M

600k-SF Olive Branch Facility Purchased by AREA Property Partners
August 10, 2011
AREA Property Partners, a New York-based real estate investment firm, has purchased a 600,000-square-foot distribution facility for $21.25 million, or about $35 per square foot, in Olive Branch, MS.

The class-A building, located at 7485 Polk Lane in the Olive Branch Distribution Center, is fully occupied by Diamond Comic Distributors on a long-term lease. Construction was completed in June 2008 as a build-to-suit for Diamond on 34 acres.

Stewart Calhoun, David Meline, Kirk Billings, and Samir Idris of Cushman & Wakefield's Atlanta-based Southeast Capital Markets Group, along with Wyatt Aiken and Dave Curran of Commercial Advisors LLC, represented American Fund U.S. Investments and Real Estate Capital Partners in the sale.

Please refer to CoStar COMPS #2157338 for more information on this transaction.

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