CORFAC News

Iowa City, IA (March 16, 2009) – CORFAC International today announced the completion of a major industrial lease transaction totaling 192,500 square feet of space on behalf of Alliance Display, a division of paper board manufacturer Rock-Tenn Company, at 2651 Industrial Park Road in Iowa City's Scott Six Industrial Park.

Alliance Display will open a packaging operation at the 310,000-square-foot facility for the packaging of consumer goods in displays made at Alliance's main factory in Winston-Salem, N.C.  These displays are then shipped direct to retail stores or to their customers’ distribution centers. Alliance Display signed a lease valued at more than $3.6 million. The company will take occupancy in May and is expected to create more than 100 new jobs at this location.

Jeff Graham, SIOR, president, King Industrial Realty of Florida/CORFAC International, together with Kevin Crowley, SIOR, commercial sales manager, and Jason Lozano, assistant manager, Iowa Realty Commercial/CORFAC International, represented the tenant in the transaction negotiations and served as the sole brokers on the deal.

“We evaluated a number of locations in the region and it was determined that Scott Six Industrial Park and Iowa City in general were a good fit for Alliance Display,” said Mr. Graham, who also serves as president of CORFAC International. “The close collaboration between CORFAC firms enabled us to effectively represent Alliance Display during a major expansion phase, and we worked diligently to ensure that both sides benefited from the transaction.”

“Scott Six Industrial Park offered Alliance Display a unique opportunity to lease a property adjacent to a major client.” said Mr. Crowley. “This not only marks one of the largest deals secured in Iowa City this year, but it also confirms the attractiveness of the region to those corporations seeking access to a highly-skilled labor pool. It’s great news for the local economy.”

Scott Six Industrial Park is centrally located in Iowa City, a short distance off of I-80. The 192,500 square foot industrial property is owned by Russell A. Gerdin Revocable Trust UWA. Major tenants at Scott Six Industrial Park include Procter & Gamble, Oral B and International Automotive Components.

Rock-Tenn Company (NYSE:RKT) based in Norcross, GA, is one of North America's leading manufacturers of paperboard, containerboard, consumer and corrugated packaging and merchandising displays, with annual net sales of approximately $3.1 billion. The company operates locations in the U.S., Canada, Mexico, Chile and Argentina.

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About CORFAC International

CORFAC International is one of the largest commercial real estate services organizations in the world and celebrates its 20th year in 2009.  U.S.-based CORFAC is comprised of privately held entrepreneurial firms serving more than 150 markets in The Americas and internationally through alliances with UK-based King Sturge and Panama-based Latin American Corporate Property Services. In recent years, CORFAC firms completed over 9,000 commercial real estate transactions annually, encompassing more than 300 million square feet and valued each year in excess of $30 billion.  For more information on CORFAC contact 954-923-6160, info@corfac.com or visit www.corfac.com.