OAK CREEK, WIS. — Independence Corrugated LLC has renewed its 120,000-square-foot industrial lease in Oak Creek, about 12 miles south of Milwaukee. The facility is located at 7475 S. 6th St. Steve Sewart of Colliers International brokered the lease transaction. The landlord was not disclosed. Independence Corrugated is a producer of corrugated paper packaging.
CORAL SPRINGS, FLA. — Cushman & Wakefield has arranged a 105,642-square-foot industrial lease with Aldora Aluminum & Glass Products at 4520 Coral Ridge Drive in Coral Springs, a city in northern Broward County. Richard Etner Jr., Chris Metzger, Christopher Thomson and Matthew McAllister of Cushman & Wakefield negotiated the lease on behalf of the building owner, Exeter Property Group. MJ Ridenour of Coldwell Banker Commercial NRT represented Aldora. The manufacturer produces a full line of glass, mirror, window and façade products, including hurricane-resistant aluminum storefronts and entry systems. The company is currently headquartered in Miramar, but will relocate its operations to the Coral Ridge Drive facility by summer 2019. Exeter is renovating the facility, formerly known as the Alliance Building, to modern institutional standards. The existing 193,211-square-foot building will be part of a four-building, 567,846-square-foot distribution development known as Coral Springs Commerce Center II.
CIUDAD JUÁREZ, MEXICO — CBRE has negotiated an industrial lease renewal in Ciudad Juárez, Mexico, located directly across the border from El Paso. The tenant, CommScope, a North Carolina-based provider of communications infrastructure equipment, occupies 188,000 square feet of warehouse and distribution space. Anthony Mash of CBRE represented the tenant in the lease negotiations. The landlord, HSBC Mexico, was self-represented.
KATY, TEXAS — MARS Properties LLC has broken ground on High Point West, an 89,440-square-foot distribution center in Katy, a western suburb of Houston. Situated on 7.2 acres, the property will feature 32-foot clear heights, as well as access to controlled truck courts and to the Interstate 10 corridor. CBRE will market the property, which is expected to be complete by spring 2019.
TETERBORO, N.J. — Goodman Group has acquired a 616,992-square-foot logistics center in Teterboro. The sales price was undisclosed. The property is fully leased to a major e-commerce provider and is located approximately seven miles from Manhattan. It is one of only two Class A logistics centers larger than 400,000 square feet in Northern New Jersey. The seller was undisclosed.
GARLAND, TEXAS — Marcus & Millichap has brokered the sale of COL-MET, a 112,102-square-foot industrial asset located at 3333 Miller Park S. in Garland, a northeastern suburb of Dallas. The property was built in 1997. Adam Abushagur of Marcus & Millichap represented the seller and procured the buyer in the transaction, both of which were private investors and requested anonymity.
HOUSTON — NAI Partners has arranged a 35,000-square-foot industrial lease at 12014 FM 529 in Houston for TexTrail Inc., a provider of parts and services for the trailer industry. Jake Wilkinson of NAI Partners represented the tenant in the transaction. The name and representative of the landlord were not disclosed.
MOCKSVILLE, N.C. — The Hollingsworth Cos. is underway on a 253,180-square-foot building within SouthPoint Business Park in Mocksville, located roughly 60 miles north of Charlotte. The industrial building is the second in a four-building, 644,644-square-foot expansion within the park, and the 10th building overall. The new facility will feature 30-foot clear heights, 60- by 60-foot column spacing and LED lighting. The ninth building in the park — the first building in the expansion — is a 108,960-square-foot speculative facility. Two additional buildings totaling 152,160 and 130,344 square feet are planned in the park. Both facilities will be able to expand to more than 230,000 square feet. Construction is scheduled to begin on the two buildings in 2019.
PHOENIX — Newport Beach, Calif.-based Bixby Land Co. has purchased Riverside @ 51st Avenue, an industrial property located at 2300 S. 51st Ave. in Phoenix. BLC Industrial Venture I – CO 3 LLC, WFG Riverside LLC and Pacifica Riverside LLC — a group of tenant-in-common entities — sold the property for $27.2 million, or $81.15 per square foot. Situated on 19.3 acres, the 335,459-square-foot facility was developed in 2007. At the time of acquisition, the property was 95 percent occupied. Will Strong, Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield negotiated the deal.
SAN BERNARDINO, CALIF. — Voit Real Estate Services has arranged the sale of a newly developed industrial warehouse building located at 2705 Lexington Ave. in San Bernardino. A partnership between Hartford, Conn.-based Penwood Select Industrial Partners III and Newport Beach, Calif.-based Shaw Development Partners sold the property to a global consumer products company for $18.2 million. The 154,451-square-foot facility features 2,200 square feet of office space, an ESFR sprinkler system, a secured concrete truck court and electrical service of 1,200 amps. The buyer plans to use the property for its own operational and distribution needs. Frank Geraci, Juan Gutierrez and Adam Geiger of Voit’s Inland Empire office represented the seller in the transaction.