UniStar Properties Purchases Strategically Located $30.7 Million Distribution Center in Crossville, TN

BETHESDA, Md., Oct. 6 /PRNewswire/ -- In the midst of increasing market failures, UniStar Properties, LLC continues to identify commercial real estate investment opportunities, recently purchasing 1536 Genesis Road, Crossville, TN, a Class A distribution center/warehouse office facility strategically located in a foreign trade zone. UniStar purchased this property which includes a 671,000 net rentable square foot building and 54.43 acres for $30.7 million. The property is fully leased by CoLinx, LLC, a manufacturer-owned provider of shared e-commerce and logistics services. CoLinx was co-founded by four top brand manufacturers Baldor-Dodge-Reliance, SKF USA Inc., The Timken Corporation and Shaeffler Group USA Inc. to share costs associated with logistics and e-commerce. Gates Corporation joined in 2006. Now CoLinx serves as a logistics and distribution hub for a large number of premium brand manufacturers.

"The Genesis Road property in Tennessee is a strategic investment for UniStar as it builds its portfolio to include extremely desirable properties for tenants," said Lee Jundanian, founder of UniStar Properties. "Despite hardships the economy is currently facing, UniStar has been able to maintain strong institutional funding relationships, putting us in a good position to purchase additional properties and continue seeking profitable opportunities."

This property is in a high-demand location, situated in the foreign trade zone in Crossville, TN, between Knoxville and Nashville. It is centered near the intersection of two major federal highways -- U.S. Route 40, which runs east to west through the state, and U.S. Route 127, which runs north to south. Crossville encourages a positive business environment and hosts dozens of well-known companies' operations. With a pleasant climate year-round, the city is also known for its golf courses and as a popular retirement community.

UniStar's transaction team for the purchase of this property was led by Samuel Begun, Jared Okun and Kathy Kotowski. Samuel Begun has more than 20 years of real estate and finance experience and has received numerous awards in these fields. Jared Okun has been in commercial real estate for half a dozen years focusing on mid-sized transactions. Kathy Kotowski has more than 25 years of accounting experience.

"The fact that this property is in a foreign trade zone makes it especially strategic," said Begun, COO of UniStar Properties. "UniStar will continue to seek opportunities such as this to consistently strengthen its investment portfolio."

About UniStar Properties, LLC

UniStar Properties, LLC, is a real estate investment firm based in Bethesda, MD with an expertise in real estate acquisition in cash-flowing assets, creating additional value post-acquisition and superior returns for its investors. Since its founding in 2003, UniStar has acquired more than a dozen properties that have since appreciated significantly in value. UniStar plans to continue expanding its presence along the East coast as profitable opportunities present themselves. For more information on UniStar Properties, visit http://www.UniStarProperties.com.