The James Fielding US Industrial Trust has sold 4.4 acres of excess land at 308 South Division, Harvard, Illinois to the Shiner Group LLC for $US1.92 million.
The prominent corner piece of land was surplus to the needs of the existing major tenant, Tru Value Company, and will be developed into a convenience centre by the Shiner Group.
The sale is anticipated to occur in January 2007 and is conditional on the Shiner Group being granted development approval from the Village of Harvard.
On completion of the sale the trust is expected to recognise a profit of approximately US$850,000, after costs.
By Adam Parsons
