Binswanger Brokers Sale of Ingram Book Group Property in Petersburg, VA.

CHARLOTTE, N.C. -- Representing Ingram Book Group, Inc., Binswanger recently negotiated the sale of a 231,800 sq. ft. building on 19 acres to Hollingsworth Companies. The property is located at 25410 Weakley Road.

Ingram Book Group, Inc. consolidated operations formerly housed at the Petersburg facility several years ago into a facility in Pennsylvania. Wal-Mart has been leasing 87,500 sq. ft. of the building and will remain a tenant for the next few years. The building is ideal for warehousing and distribution operations, with 22' - 25' ceiling heights, 50' x 50' column spacing and 24 dock-high doors.

While Binswanger represented the seller in the transaction, it also brought in the buyer, Hollingsworth Companies. A Clinton, Tennessee-based investor, Hollingsworth has become active in the local Virginia market.

In a separate transaction, Rehrig Penn Inc., a pallet repair and resale company and wholly-owned subsidiary of Rehrig Pacific Corporation, has also signed a lease for approximately 87,500 sq. ft. in the building next to one of their primary customers, Wal-Mart.

Headquartered in Philadelphia, PA, Binswanger is 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.