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CB Richard Ellis conquers Connecticut industrial market

The Tri-State investment team for Los Angeles-based CB Richard Ellis - with support from Boston-based CBRE/Whittier Partners - has arranged two industrial transactions worth more than $32 million.

Representing Chicago-based First Industrial Realty Trust, the CB Richard Ellis disposition team arranged the sale of an 11-building, 619,141 sq. ft. portfolio for $21.34 million. New Beverly Realty LP, a partnership controlled by Little Falls, N.J.-based Rubenstein Properties, acquired the portfolio, which is located in Windsor and Cheshire, Conn., and is 97% leased.

CB Richard Ellis also arranged the $10.65 million sale of a five-property Connecticut portfolio on behalf of Des Moines, Iowa-based Principal Capital Management. Hamden, Conn.-based 1350 Capital Drive LLC acquired the portfolio and was represented by locally based First Whitney. The portfolio is 72% leased.

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