Industrial

River Springs Ranch Corporation Buys Utah Industrial Park

by Nellie Day May 7, 2015

SALT LAKE CITY – River Springs Ranch Corporation has acquired a 60,595-square-foot industrial park in Salt Lake City for an undisclosed sum. The park is located at 4030, 4036 and 4050 South 500 West. River Springs is looking to exchange out of its West Coast products and into more stable markets, such as Utah, according to Bryce Blanchard and Zach Anderson of Newmark Grubb ACRES, which represented the California investor. The seller, 4000 S Industrial Park LLC, was represented by Mark Jensen, Jeff Heaton and Robert Kingsford of the same firm.

May 7, 2015

Industrial New Jersey Northeast

Bussel Realty Brokers Sale of 75,600 SF Distribution Facility in New Jersey

by Amy Works May 6, 2015

ELIZABETH, N.J. — Bussel Realty Corp. has brokered the sale of a distribution facility, located at 502 York St. in Elizabeth. Federal Autocat, which currently leases the property, elected to execute its option to purchase the 75,600-square-foot facility for an undisclosed price. Situated on three acres, the property features 20-foot ceilings, multiple loading docks, one drive-in door, ample power and on-site parking. Jordan Metz of Bussel Realty represented the buyer, while David Blitt, also of BRC, represented the seller, Weisman Family Partnership LLC, in the transaction.

May 6, 2015

Industrial Northeast Pennsylvania

Roddy Inc. Brokers 13,500 SF Lease in Bristol, Pennsylvania

by Amy Works May 6, 2015

BRISTOL, PA. — Bensalem, Pa.-based Roddy Inc. represented Salem Steel NA LLC in the lease of 13,500 square feet of space at 2101 Green Lane in Bristol. Salem Steel NA leased the space, which located within the 70,000-square-foot Bristol Commerce Center, from Green Lane Properties LLC. The tenant plans to use the space as a warehouse/distribution center. Sean Durkin of Roddy Inc. represented the tenant, while Andrew McGhee of Colliers International represented the landlord in the transaction.

May 6, 2015

Arizona Industrial Western

First Industrial, Merit Partners Buy Land Near Phoenix for New Distribution Center

by Nellie Day May 6, 2015

PHOENIX — First Industrial Realty Trust and Merit Partners have joined forces to purchase 21.1 acres of land in Tolleson for a 386,100-square-foot distribution building. The project will be located at the northeast corner of 94th Avenue and Buckeye, just west of Phoenix. The cross-dock distribution building is slated for completion this December. It will be fully owned by First Industrial, which expects to invest about $21.1 million into the Class A facility. Mattress Firm is the first tenant to sign on at the project. Its new 170,000-square-foot lease will allow the mattress store chain to expand from its neighboring location. The building will be constructed by Sun State Builders. The land sale transaction was executed by Payson and Don MacWilliam and Jimmy Leaf of Colliers International.

May 6, 2015

California Industrial Western

Globe Con Freight System Leases Industrial Facility in Los Angeles

by Nellie Day May 5, 2015

LOS ANGELES – Globe Con Freight System has leased 169,957 square feet of distribution space in the Los Angeles submarket of Rancho Dominquez. The two-building center is located at 18301 and 18420 Broadwick Street. The five-year lease is valued at $5.8 million. The firm provides transportation services, including harbor drayage, transloading services, retail distribution, fulfillment and nationwide trucking. The center is owned by Carson Companies, which was represented in-house by Todd Burnight. Globe Con was represented by Don Smith of Lee & Associates Los Angeles – Long Beach.

May 5, 2015

Industrial Texas

KFG Acquires Eight-Building Industrial Portfolio in Metro Austin

by Haisten Willis May 4, 2015

AUSTIN AND ROUND ROCK, TEXAS — KFG Investment Co. has acquired an eight-building, 271,060-square-foot industrial portfolio in metro Austin. The company’s flex industrial portfolio in the area now includes 598,900 square feet. The acquisition includes Techni Center 6 and 7, located at 3714 Bluestein Drive in Austin, totaling 124,390 square feet; the five-building flex project known as Cameron Center, located at 8200 Cameron Road in Austin, totaling 94,770 square feet; and Amorron 6, located at 800 Paloma Drive in Round Rock, totaling 51,900 square feet. The portfolio is 96 percent leased. TA Associates and Clarion were the sellers. Tenants in the portfolio include Chip Semiconductor, Action Box Co., GTECH Corp., and Busch Semiconductor Vacuum Group.

May 4, 2015

Industrial Texas

Ridgeline to Develop 453,600 SF Distribution Center in Dallas

by Haisten Willis May 4, 2015

DALLAS — Ridgeline Property Group (RPG) and its capital partner Stockbridge Capital Group have purchased a 29.5-acre parcel in the South Dallas industrial submarket. The property will serve as the site of a 453,600-square-foot distribution facility. Construction on Eagle Park 20\35, named for its location at the intersection of Interstates 20 and 35, will begin in June and is scheduled to be completed in the first quarter of 2016. RPG and Stockbridge Capital Group purchased the site, which is located within the Eagle Business and Industrial Park at Centre Park Drive, from Danieldale/35E No. 2 Ltd. Kurt Griffin and Nathan Orbin of JLL represented the buyer and seller in the transaction. Eagle Park 20\35 will feature 32-foot ceiling heights, 185-foot dual truck courts and abundant trailer storage. The 400-acre Eagle Business and Industrial Park is home to tenants including Solar Turbines, Kohl’s, Sam’s Club and Kauffman Tire. The business park also offers access to air travel from Dallas Executive Airport.

May 4, 2015

Industrial Texas

Majestic Realty Purchases 2,000 Acres in Laredo

by Haisten Willis May 4, 2015

LAREDO, TEXAS — Majestic Realty Co. has purchased a 2000-acre site from a subsidiary of Mercedes-Benz. Majestic plans to redevelop the site with warehouse distribution space to support commerce between Mexico and the United States. Laredo is a customs district with annual U.S-Mexico trade totaling $230 billion. Majestic executives have begun master-planning the development with the aim of putting the first phase of development into production immediately.

May 4, 2015

Industrial New Jersey Northeast

Colliers Brokers $2.7M Sale of Two Industrial Buildings in New Jersey

by Amy Works May 4, 2015

BELLMAWR, N.J. — Colliers has brokered the sale of two industrial/flex buildings at Korman’s Interstate Business Park in Bellmawr. Bellmawr Industrial and Technology Center LLC purchased the properties for $2.7 million from Korman Commercial Properties. The assets, which total more than 96,000 square feet, are located at 420 and 440 Benigno Blvd. The two-building property, called Kor-Center, is a multi-tenant complex. Current tenants are Show-n-Tell Media, an affiliate of the buyer; Dade Paper; Spectrum Show Services; and JDJ Construction; among others. Marc Isdaner of Colliers represented the seller in the transaction.

May 4, 2015

Industrial New York Northeast

PaperWorks Industries Leases 496,200 SF Industrial Space in Syracuse

by Amy Works May 4, 2015

SYRACUSE, N.Y. — Philadelphia Mills, Pa.-based PaperWorks Industries has signed a lease for 496,200 square feet of industrial space in Syracuse. PaperWorks has leased the space from Orangeball LLC through 2032. Dennis Hennessy of COR Brokerage represented the landlord, while Mark Rupprecht of CBRE/Syracuse represented the tenant in the transaction. Additional terms of the lease were not released.

May 4, 2015

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