DALLAS — Stream Realty Partners has negotiated the sale of a 69,866-square-foot warehouse located at 9225-9249 King James Drive in Dallas. The property is located on the northwest side of the city. Jason Moser of Stream Realty Partners represented the seller, 9225-9249 King James LLC. King James Properties LLC purchased the asset for an undisclosed price.
COTTAGE GROVE, MINN. — Hillcrest Development LLLP and The Opus Group have broken ground on the first building at Southeast Industrial Park in Cottage Grove, about 25 miles southeast of Minneapolis. Completion of the 161,000-square-foot industrial building is slated for this September. North Star Sheets, a corrugated paper manufacturer, will occupy the building. This is the first phase in a multiphase, rail-served industrial development undertaken by Opus and Hillcrest. An additional 24 acres remain undeveloped on the site, which Hillcrest owns, allowing for 300,000 to 350,000 square feet of future development. Hillcrest has retained Eric Rossbach of Colliers International to market the site for lease. Opus Development Co. is the developer, Opus Design Build is the design-builder and Opus AE Group is the architect and structural engineer of record.
MILFORD, CONN. — Pearce Real Estate has brokered the sale of an 18,634-square-foot industrial facility in Milford for $1 million. The property is located at 363 Naugatuck Ave., 14 miles south of New Haven. John Bergin of the Pearce Commercial Milford office represented the buyer, 363 Naugatuck Ave. LLC, and the seller, Travco of Milford LLC, in the transaction. United Rentals has leased the property for the past 17 years.
MINNEAPOLIS — CBRE Capital Markets has arranged the sale of a 12-property industrial tech portfolio totaling 914,698 square feet in the Twin Cities. A joint venture between Artemis Real Estate Partners and Eagle Ridge Partners purchased the portfolio, which was 87 percent leased at the time of sale. Tenants include a mix of high-tech services, manufacturing, biotechnology, media production and other companies in the tech industry. The properties are located in the suburbs of Woodbury, Oakdale, Plymouth, Maple Grove, Minnetonka and Eden Prairie. Judd Welliver, Ryan Watts, Sonja Dusil and Tom Holtz of CBRE represented the seller, a private REIT.
ADDISON, ILL. — Lee & Associates has negotiated the $2 million sale of two industrial buildings in Addison, about 20 miles west of Chicago. The properties include a 13,884-square-foot building at 1236 Capitol Drive and a 15,200-square-foot building at 1770 Cortland Court. Jay Farnam represented the seller in both transactions. Neither the buyer nor the seller was disclosed.
HOUSTON — HFF has arranged the sale of Intrepid Business Park, a 270,750-square-foot industrial asset located in northwest Houston. Developed between 2014 and 2015, the Class A property is situated on 17.1 acres and offers convenient access to Beltway 8, U.S. Highway 290 and Interstate 10. Building features include 30-foot clear heights and 58 dock-high doors. Approximately 14.3 percent of the square footage is office space. Trent Agnew, Rusty Tamlyn and Dane Petersen of HFF represented the seller, Triten Real Estate Partners, in the transaction. The buyer and sales price were not disclosed.
RENO, NEV. — SupplyHouse.com has leased 190,871 of industrial space at North Valleys Commerce Center in Reno. The space is located at 9460 N. Virginia St. The new lease brings Phase I of the commerce center to full occupancy. The owners will implement approximately $1 million in tenant improvements to the property for the new tenant, an online plumbing and heating parts and supplies retailer. The project’s developer is Panattoni Development. Tectonics will serve as the architect, while Alston Construction is the general contractor.
PENNSAUKEN, N.J. — Colliers International has negotiated the sale of three industrial buildings in Southern New Jersey for a combined $7.5 million. The three properties located in Pennsauken include: 9240 Commerce Highway, a 67,600-square-foot warehouse acquired by a private investor for $3.2 million; 6995 Airport Highway Lane, a 60,800-square-foot manufacturing facility purchased by Heat Makers Sense for $2.7 million; and 9265 Commerce Highway, a 33,500-square-foot warehouse acquired by Draco Broadcast for $1.6 million. The seller was the Bloom Organization. Ian Richman and Marc Isdaner of Colliers arranged the sale of the three properties.
GRAND PRAIRIE, TEXAS — Stream Realty Partners has brokered the sale of a 265,877-square-foot distribution center located at 3100 State Highway 161 in the Dallas metro of Grand Prairie. Built in 2015, the property is located within Trinity 161 Trade Center and offers convenient access to Interstate 30. Building features include 27-foot clear heights, 46 dock-high doors, an ESFR sprinkler system and 390 car parking spaces. Cannon Green and Sarah Ozanne of Stream Realty Partners represented the buyer, Colony Industrial, a division of Los Angeles-based REIT Colony Northstar. The seller was Soho Somervell Trinity LP.
FRIDLEY, MINN. — LKQ Corp. has signed a 200,000-square-foot industrial lease at Northern Stacks in Fridley, about 10 miles north of Minneapolis. The provider of automobile repair parts will occupy the entire square footage of Stacks VII, the seventh and final building at the industrial park slated for completion in January 2019. To date, developers Hyde Development and M.A. Mortenson Co. have completed five buildings, four of which are fully leased. Eric Batiza and Jason Simek of Colliers International represented Hyde in the lease transaction. Vic Overholser of SDS Realty represented LKQ.
