News
FOUR RIVER INTERMODALS SOLD
March 15, 2011
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| Sure, we can all say we've sold office towers or apartment complexes, but who can say they've sold a river terminal? Try CresaPartners Liz Roberts and her teammates Brad Metzger, Sheila Matuscak, Robert Wheeler, and Chad Bermingham. The team repped CF Industries in its disposition of four river terminals it owned and operated in Albany and Peoria, Ill., St. Louis, and Cinncinati. The fertilizer distributor realized it wasn't using the multi-million dollar facilities, which ranged in size from seven to 84 acres, and no longer wanted to operate the barge-to-truck intermodals for other distributors. They selected Cresa because of its experience with many different kinds of real estate. Liz has worked in office, retail, and industrial before on national accounts. | |
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| Since river terminals aren't easy to value, Liz's team requested sealed bids for the properties, which yielded a price on the high end of the expected value range. Growmark bought the properties, which included the warehouses and equipment for transferring wet and dry fertilizer from the barge to a warehouse, truck, or railcar. (Bet you weren't expecting a fertilizer lesson when you woke up today). CF had maintained the properties well, which helped them get the best pricing, Liz tells us. | |
