Avison Young closes sale of 851,000-square-foot GE distribution facility in Tennessee

Avison Young’s Chicago office has completed the sale of an 851,370-square-foot General Electric Company lighting distribution facility in Cleveland, Tennessee. Avison Young Principals Erik Foster and Mike Wilson, both based in the company’s Chicago office and members of the firm’s National Industrial Capital Markets Group, represented the seller, Chicago-based SMB Bradley, a real estate private equity firm. The buyer was Lexington Realty Trust, based in New York City. Financial details were not disclosed.  The Foster/Wilson team worked in conjunction with Avison Young Principals Sue Earnest in Nashville and Chris Skibinski in Charlotte, North Carolina. The building, at 1520 Lauderdale Memorial Highway, is GE’s largest lighting distribution center in the country and serves some of the world’s leading retailers, including Wal-Mart, Lowes and Target. The facility was built to meet the specific needs of GE Lighting. The tenant occupies the entire building