|
|
 |
|
|
|
|
Press Release
|
Contact: Nick Derasmo (212.841.7505) |
|
|
|
SONNENBLICK-GOLDMAN COMPANY ARRANGES SALE SMITHS INDUSTRIES HEADQUARTERS IN GRAND RAPIDS, MICHIGAN |
|
|
Friday, January 22, 1999
-
New York, NY
-
Sonnenblick-Goldman Company, acting as the exclusive advisor to National RE/sources, has arranged the sale of the Smiths Industries, Inc. Headquarters in Grand Rapids, Michigan. National RE/sources is an operating entity formed by AEW Partners, L.P.; an investment partnership managed by Boston-based AEW Capital Management on behalf of a number of institutional investors. Michigan Hill, L.L.C., a local investor, purchased the property.
The Class A property is located at 3260 Patterson Avenue in close proximity to the newly expanded Kent County Airport. Completed in 1998, the complex, which consists of a three-story office building and a manufacturing building, contains over 300,000 square feet as well as a 65,000 square foot mezzanine. Smiths Industries, Inc., which is a wholly owned subsidiary of the London based Smiths Industries, Plc, provides the latest technology in aviation electronics to the civil and defense markets. Smiths Industries leases the entire space on a long-term net lease (18 years remaining). |
|
|
Sonnenblick-Goldman, LLC is the industry’s leading independent real estate investment banking firm. Founded in 1893 to serve the financing needs of the real estate industry, Sonnenblick-Goldman, LLC provides a full range of financial services, including debt and equity placements, joint ventures, investment sales and advisory services. Headquartered in New York, Sonnenblick-Goldman maintains offices in San Francisco, Boston, Hong Kong, Shanghai, Sydney and Tokyo. Further information can be found at Sonnenblick-Goldman, LLC’s website at www.cushwake.com/sonngold.
|
|
|
|