Binswanger Arranges Sale of Former Heilig Meyers Distribution Center to First Industrial Acquisitions, Inc. in Athens, Texas.

DALLAS -- Representing Central Fidelity Properties, a part of Wachovia Bank, Binswanger is pleased to announce the sale of a 395,970 sq. ft. property located at 1651 Enterprise Drive in the Athens Medical Manufacturing and Technology Park for $6,200,000.

First Industrial Acquisitions, Inc., a Chicago-based REIT and developer, purchased the property. They will lease the space to Square D, a division of Schneider Electric of Paris, France. Square D specializes in NEMA-type electrical distribution and industrial control products, systems and services.

According to E. Herbert Gatlin, Executive Director of the Athens Economic Development Corporation, Square D will bring 125 new jobs into Athens this year. "They will also ship forty-seven percent of their North American production from Athens," Mr. Gatlin remarked.

This extraordinary, one-story building is fully air-conditioned and features pre-cast concrete panel walls; reinforced concrete floors; ceiling heights to 40' clear; steel columns spaced 40' x 48'; ESFR sprinkler system with 100% coverage; all utilities; 11,370 sq. ft. of modern, two-story office space; forty-five 8' x 10' dock-high doors, thirty-four with levelers; one 10' x 12' ramped drive-in door; and rail is available.

CB Richard Ellis represented Square D in this transaction.

Headquartered in Philadelphia, PA, Binswanger is an international full-service real estate organization with offices worldwide throughout the U.S.A., Canada, Mexico and South America, the U.K. and Europe, the Middle East, Asia and Australia.