Dallas’ 343,617-SF Kiest Distribution Center sold for $12M

DALLAS – The 343,617-sf Kiest Distribution Center on 5800 West Kiest Blvd. will be acquired by a third-party purchaser for $11.6 million. It is 100 percent leased to RSI Home Products Manufacturing Inc. for a remaining lease term of approximately 2.8 years.

The sale price represents an increase of approximately $1.6 million, or 16 percent, from the purchase price paid by the REIT when it acquired the property in conjunction with its initial public offering in January 2013.

The sale is expected to close on or about August 11, 2014.

Read more at BusinessWire and the Wall Street Journal.