PERRIS, CALIF. — National Stores has signed a 10-year lease at a 579,708-square-foot distribution facility in Perris. The lease is valued at $26 million. The facility is located at 3900 Indian Ave. in the Riverside submarket. The clothing, shoes and home décor merchandiser operates 325 stores in 22 states. National Stores was represented by CBRE’s Tres Reid and Rich Rizika. The landlord, Sares-Regis Group (SRG), was represented by Tom Taylor and Steve Bellitti of Colliers International.
TOPEKA, KAN. — Colliers has brokered the acquisition of an industrial building located at 3740 SE South Park Ave. in Topeka. Harvesters – The Community Food Network purchased the property from Lindemuth Inc. for an undisclosed price. Allison Vance Moore and Kirsten Flory of Colliers represented the buyer in the transaction. The seller was not represented.
SAVANNAH, GA. — CenterPoint Properties will break ground on a new 315,810-square-foot speculative industrial facility in Savannah. The new development will be located within CenterPoint Intermodal Center-Savannah on a 26-acre lot with direct access to the Georgia Port Authority and NS Dillard Yard, as well as direct rail service from Norfolk Southern. John Neely of Colliers International will market the property.
LOCKPORT, ILL. — PCCP LLC has partnered with Panattoni Development Co. to acquire a fully entitled 51-acre land parcel in Lockport, a southwest suburb of Chicago, for an undisclosed sum. The joint venture plans to develop Lockport 355, a four-building industrial park totaling 846,510 square feet, on the site. Construction of the first phase of the park is slated to begin in June, with completion scheduled for the first quarter of 2016. The first phase will include the two largest buildings at 274,040 square feet and 228,690 square feet. Upon completion, the park will offer four Class-A warehouse and distribution buildings that can accommodate single-user or multi-tenant occupancy.
DETROIT — Bernard Financial Group has arranged a $4.7 million non-recourse loan for Clark Street Industrial, a 147,000-square-foot industrial property located in Detroit. The borrower is Clark Street Redevelopment One LLC. Dennis Bernard and Kevin Kovachevich of Bernard Financial Group arranged the CMBS loan.
CITY OF INDUSTRY, CALIF. – Rexford Industrial has acquired a 51,823-square-foot industrial facility in the City of Industry for $7 million. The facility is located at 425 S. Hacienda Blvd. The property was leased-back to the seller under a new 10-year lease.
IRVING, TEXAS — Hilti Inc. has signed a lease to occupy space at Parc Royal, an industrial property located on West Royal Lane in Irving. Hilti, a supplier of specialized tools and fastening systems for the construction industry, will lease 65,000 square feet of industrial space in Building 4 with an anticipated occupancy date of June 1. The 30-acre, four-building, 511,600-square-foot industrial park, completed in December 2014, is located in the DFW Airport submarket. Blake Kendrick of Stream Realty Partners represented the landlord, Jackson-Shaw, while Forshey Hoobler with JLL represented Hilti. Jackson-Shaw partnered with GID Investment Advisor LLC, a Boston-based real estate investment company, to develop the property. Texas Capital Bank provided the construction financing for the project. Mycon General Contractor Inc. was the general contractor, and GSR Andrade Architects was the architect.
LAKE CHARLES, LA. — A joint venture between W.R. Grace & Co. and Chevron Products Co. will invest $135 million to build a residue hydroprocessing catalyst production plant at the existing Grace manufacturing plant in Lake Charles. The joint venture, known as Advanced Refining Technologies (ART), expects to create roughly 30 new direct jobs with the expansion, and Louisiana Economic Development (LED) expects approximately 88 new indirect jobs will be created. Additionally, 190 construction jobs will be created. Grace’s existing 120-acre manufacturing site is located on the Calcasieu River. The facility produces alumina, sodium silicate, fluid-cracking catalysts, hydroprocessing catalysts and zeolites. The state of Louisiana facilitated the investment with an incentive package including a $2.4 million Modernization Tax Credit. ART will also use the LED FastStart workforce development program, as well as Louisiana’s Quality Jobs and Industrial Tax Exemption programs. ART will begin hiring when construction kicks off in late 2015. Completion is slated for early 2018.
KIRKWOOD, N.Y. — An affiliate of Blue Bell, Pa.-based Equilibrium Equities Inc. has acquired a distribution center located at One Grosset Drive in Kirkwood, within the Greater Binghampton, N.Y., area. Penguin Random House LLC sold the property for an undisclosed price. The buyer plans to immediately rebrand the 514,000-square-foot center as a multi-tenant distribution facility called Triumph Business Center. Situated on 51 acres, the property features 28- and 29-foot ceiling heights, a 62,000-square-foot rack-support section, and a fully automated storage and retrieval system with an 82-foot ceiling height. Planned renovations include improved exterior aesthetics, lighting and signage upgrades, minor building system repairs and improved truck loading. Pre-leasing activities for the rebranded center have already commenced.
SOUTH PLAINFIELD, N.J. — Bussel Realty Corp. has arranged the sale of an industrial property located at 111 Somogyi Court in South Plainfield. Somogyi Holdings LLC purchased the 64,990-square-foot property for $4 million. Situated on six acres, the property features 20-foot ceiling heights, 1,200 amps of electric power, 10 tailboards, seven drive-ins, wet sprinklers and rail service. David Blitt and Robert Sager of Bussel Realty represented the buyer, while CBRE represented the undisclosed seller in the transaction.
