SALE OF BEST BUY DISTRIBUTION CENTER NEGOTIATED BY LEE & ASSOCIATES

Consolidation of facilities were a key in closing the transaction

             

ARDMORE, Okla./DALLAS—March 8, 2010—Lee & Associates has negotiated the sale of the 441,664-square-foot Best Buy Distribution Center. The exact amount of the transaction is not available, but it’s estimated that the deal closed near $7 million.

 

Trey Fricke, along with Reid Bassinger of Lee & Associates’ Dallas office, represented locally-based Ardmore Business Park LLC in selling the property to  Petersburg, Fla.-based air filter manufacturer Flanders Precisionaire Inc. Fricke noted that the transaction moved forward because they were able to consolidate multiple facilities.

 

“Consolidations are active in the current market,” said Fricke. “Companies can save money by reducing overall footprint while maximizing the use of a new facility’s layout.”

 

Built in 1991, the building was previously owned and occupied by Best Buy, which has since constructed a larger quarters in Ardmore.