Toronto Company Buys Industrial Distribution Facility for $52.5 Million
The Toronto-based company Agellan Commercial Real Estate Investment Trust announced Tuesday that it acquired the Meridian Distribution Center, a multi-tenant industrial distribution facility located at 6010 McIntosh Road, Sarasota, for $52.5 million. The distribution facility includes approximately 907,000 square feet of gross leasable area on 50 acres and is fully occupied by four tenants. United Natural Foods International occupies 460,000 square feet of dry and refrigerated space, Bealls leases 200,000 square feet, Access USA leases 163,000 square feet and Albert's Organics occupies 80,000 square feet of cooler and freezer space.