GRUBB & ELLIS ARRANGES 325,745-SQUARE-FOOT INDUSTRIAL PORTFOLIO SALE

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GRAND PRAIRIE AND ARLINGTON, TEXAS — Grubb & Ellis has arranged the sale of a four-building warehouse/distribution portfolio located in metro Dallas. The portfolio totals 325,745 square feet and consists of the three-building Northcourt Center, located in 901-909 Avenue T in Grand Prairie, as well as a building located at 2224 E. Randol Mill Rd. in Arlington. The portfolio is fully leased to 10 tenants. Lizzy Blake of Grubb & Ellis’ Dallas office represented the seller, Morristown, N.J.-based MetLife Real Estate Investments. The portfolio was acquired by Chicago-based Lincoln Advisory Group on behalf of Columbia Industrial Properties. The acquisition price was not disclosed.

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