GARLAND, TEXAS — L.L. & Smith Holdings LLC has purchased a newly constructed, 167,400-square-foot industrial building completed by Huntington Industrial Partners at 3839 Distribution Drive in Garland. The project was the first industrial building built since 2008 in Garland and was the first LEED-certified building ever constructed in the city. Seth Koschak and Eric Crutchfield of Stream Realty Partners represented Huntington in the sale, and Ryan Wolcott of Stream represented the buyer.
DALLAS — Lee & Associates has negotiated a lease transaction for a 34,776-square-foot industrial space located at 10515-10537 Miller Road in Dallas. Ken Wesson of Lee & Associates represented the tenant, Shearer Supply. Brett Lewis and George Tanghongs of Lee & Associates represented the landlord, Colony Financial.
MOUNT PLEASANT, WIS. — The Opus Group will break ground on a new 155,844-square-foot industrial project later this month. The speculative building located in Mount Pleasant, a southern Milwaukee suburb, will be the first building in the Mount Pleasant Business Park. The facility will feature 32-foot clear heights, 16 dock doors, three drive-in doors and parking stalls for 151 vehicles. The development will be able to accommodate single or multi-tenant occupancy, and completion is slated for summer of 2016. The building will be owned by a joint venture partnership between Opus Development Co. LLC and Founders Properties LLC. Opus Development will be the developer. Opus Design Build LLC will be the designer and builder, and Opus AE Group LLC will be the architect and structural engineer. Barry Chavin and Curt Pitzen of NAI MLG Commercial will market the property for lease.
ORLANDO, FLA. — McCraney Property Co. has secured a new, long-term build-to-suit lease with Freeman Expositions Inc. for 451,823 square feet at Bent Oak Phase II in Orlando. The 1 million-square-foot development project is planned to complement the existing 703,920-square-foot Phase I of Bent Oak at 1701 and 1802 Boice Pond Road. The lease represents the largest build-to-suit industrial lease signed in the market in more than seven years, bringing the industrial park to 48 percent leased prior to the construction of Bent Oak II. McCraney Property has teamed up with joint venture partner Clarion Partners to develop Bent Oak II. Bent Oak II will be located at the intersection of Taft Vineland Road and the Florida Turnpike and will deliver by year-end 2016 and will consist of six buildings in total. Freeman will relocate from its current locations to occupy 100 percent of Building 600. McCraney Property has hired Edwards Construction, C4 Architecture and Smiley & Associates Engineering to design and build the project. Matt Sullivan of Cite Partners represented McCraney Property and Clarion Partners in the transaction. Tom McCarthy, Joe Hills and Josh Lipoff of JLL represented the tenant.
TORRANCE, CALIF. — Totex Manufacturing has purchased a 71,496-square-foot industrial facility in Torrance for $9.8 million. The space is located at 3040-3050 Lomita Blvd. The battery pack and charger manufacturer plans to occupy the space by January 2016. It was formerly occupied by General Motors. Todd Taugner, Frank Schulz, David Prior and Patricia Wisman of the Klabin Company represented Totex. Colliers International represented the seller, Lomita Partners.
CHICAGO — Essex Realty Group Inc. has brokered the $1.5 million sale of a vacant warehouse property on the south side of Chicago. The building, Kissel Kar Lofts, is three stories and 54,000 square feet. Located at 2550 S. Wabash Ave., the property is in need of a full rehabilitation. Doug Fisher and Jason Fishleder of Essex brokered the transaction. The buyer and seller were undisclosed.
CHATSWORTH, CALIF. — Dan Selleck of Selleck Development Group has acquired a 55,000-square-foot building in Chatsworth that served as the Tamrac company’s headquarters building and primary manufacturing facility. It was listed at $6.5 million. The space is located at 9420 Jordan Ave. It contains 27,000 square feet of R&D space and a two-story office totaling 28,000 square feet. Tamrac is a camera case manufacturer. Bart Pucci and Scott Katcher of Savills Studley’s downtown Los Angeles office represented the sellers.
HOUSTON — Marcus & Millichap has arranged the sale of West Hardy Business Park, a 69,002-square-foot industrial property located in Houston. Thomas Costello of Marcus & Millichap’s The Woodlands office marketed the property on behalf of the seller, a partnership. Costello also secured the buyer, a limited liability company. West Hardy Business Park is located at 15955 W. Hardy Road.
LOUDON, TENN. — NAI Knoxville has arranged the sale of a 334,024-square-foot industrial property situated on a 108-acre lot at 9600 Corporate Park Drive in Loudon. Morgan Olson LLC, a walk-in van body manufacturer, purchased the asset from Astec Underground Inc. for $10 million, according to media outlets. Morgan Olson plans to bring more than 400 jobs to the facility. James Roberson of NAI Knoxville, along with Bryan Rudisill of NAI Charter, brokered the transaction.
FORT WAYNE, IND. — JLL has arranged the lease of a 764,000-square-foot flex facility in Fort Wayne. The building is located at 2909 Pleasant Center Road, and VEREIT is the landlord. The building was built in 1994 and is a former Nestle distribution center. The property features 8,400 square feet of cooler space, 17,725 square feet of office space and is expandable to more than 1 million square feet. The asset has 66 front-load dock doors and parking for 300 trailers and 144 cars. Steve Schwegman and Brian Seitz of JLL represented the landlord in the transaction. Greg Pink of Bradley Cos. represented the tenant.
