LaSalle Buys Industrial Sites

By Darren Currin Journal Record Reporter | THE JOURNAL RECORD, April 8, 1999 | Go to article overview

LaSalle Buys Industrial Sites


Darren Currin Journal Record Reporter, THE JOURNAL RECORD


LaSalle Investment Management, a member of the Chicago-based Jones Lang LaSalle group, has bought a three-building industrial portfolio totaling 257,000 square feet in southwest Oklahoma City.

The portfolio consists of three 100-percent occupied, single- tenant bulk warehouse buildings at 5500 and 5600 SW 36th St. and 3701 S. Thomas Road, situated in the World Airport Industrial Park between S. Meridian Avenue and S. MacArthur Boulevard.

The purchase price was not disclosed. LaSalle acquired the properties from The Equitable Life Assurance Society of the United States on behalf of CalEast Industrial Investors, a joint venture whose managing partner is LaSalle Investment Management. David S. Weinberg, associate of LaSalle Investment Management, said the purchase was based on the properties' close proximity to Will Rogers World Airport and to the major transportation corridors, providing convenient access for building tenants and their customers. "This acquisition is an attractive complement to the assets currently owned by our client in the Oklahoma City market," he added. …

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