Binswanger/CBB Negotiates Sale of 1.4 Million Sq. Ft. Complex in Coldwater, Ohio.

Business Editors/Real Estate Writers

PHILADELPHIA--(BUSINESS WIRE)--Dec. 16, 2002

Representing AGCO Corporation, Binswanger/CBB recently negotiated the sale of a 1,400,000 sq. ft industrial complex on approximately 80 acres to Sandusky Investments/Bruns Building and Bruns Building and Development.

The property is located at 123 W. Sycamore Street. Sale price was not disclosed.

This transaction marks the second sale of a major manufacturing facility to a direct user that was negotiated by Binswanger/CBB in Mercer County. Just three years ago, Binswanger/CBB also arranged the sale of Huffy's 850,000 square foot building in Celina, Ohio, to Crown Equipment.

Selling these facilities direct has salvaged significant tax dollars and generated jobs that would otherwise have been lost in the county.

St. Henry-based Sandusky Investments/Bruns Building and Bruns Building and Development is a local investor and building contractor. Crucial to sealing the deal were the three existing tenants who will remain in the building. The buyer plans to renovate the property and seek additional tenants.

Duluth, Georgia-based AGCO Corporation is one of the world's largest manufacturers, designers and distributors of agricultural equipment including brand name products such as Massey Ferguson and Fendt. The company disposed of the property in order to consolidate operations.

Headquartered in Philadelphia, PA, Binswanger/CBB is a member of Chesterton Blumenauer Binswanger, an international, full-service real estate organization with over 160 offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, Asia, South Africa and Australia.