MEMPHIS, TENN. — Exeter Property Group has purchased a 4.4 million-square-foot portfolio of industrial properties in Memphis, Nashville and Columbus, Ohio, for $132 million. Exeter purchased the eight-property portfolio from LNR Property LLC, the special servicer appointed to the portfolio upon its transfer from London-based Strategic Realty Advisors Ltd. in June 2013. Four of the properties, totaling more than 2.1 million square feet, are located in Memphis. Andrew Phillips of Colliers International’s Memphis office, along with Steve Timmel of the firm’s Cincinnati office, represented LNR in the transaction.
Industrial
BROADVIEW, ILL. — Reliable Industries has sold its 16,600-square-foot manufacturing facility at 1920 Beach St. in Broadview. Indian Joe Properties purchased the building, which is now fully leased by custom closet designer Crooked Oak. Duke Botthof and Steve Sullivan with NAI Hiffman’s industrial services group represented Reliable Industries in the transaction. Dave Prioletti of CBRE represented the buyer.
LEWISVILLE, TEXAS — Bob Moore Construction has broken ground on a new 421,000-square-foot flex space complex in the Dallas suburb of Lewisville. Flooring Services Inc., a family of companies that has provided flooring and other interior building products in Texas, Oklahoma and Louisiana since 1983, will consolidate its various businesses at the property, which also includes room for future growth. The two-building development comprises 204,350 square feet of warehouse space, 57,688 square feet of corporate offices and a 54,350-square-foot showroom, all within Building A; and 105,400 square feet of manufacturing space in Building B. The facilities are slated for completion in the first quarter of 2015. Pross Design Group, based in Dallas, is serving as architect on the project.
PHOENIX — CFA Cabinetry has signed a five-year lease for a 63,840-square-foot warehouse and distribution facility in Phoenix. The new space will be located at 420 S. 53rd Ave. The kitchen and bathroom cabinetry wholesaler will be relocating from its 32,000-square-foot space at 1725 E. Williams Road in Deer Valley. CFA was represented by Keri AmRhein-Scott and John Grady of Cushman & Wakefield. The landlord, Overton Moore Properties, was represented by Stein Ross of Lee & Associates.
TAMPA, FLA. — Westmount Realty Capital LLC has purchased a 332,143-square-foot industrial portfolio in Tampa. The portfolio consists of six showroom and flex buildings on West Waters Avenue; two rear-load, dock-high buildings on Sunstate Street; and six front-load, dock-high distribution warehouses on Pioneer Park Boulevard. The portfolio is currently averaging 77 percent occupancy. Steve Kanoff of Westmount Realty Capital led the team on the acquisition. Cushman & Wakefield’s Tampa office represented the seller in the transaction. NorthMarq Capital’s Tampa office procured the debt on behalf of Westmount Realty Capital.
ONTARIO, CALIF. — Chenbro Micom has acquired an 88,797-square-foot manufacturing and distribution building in Ontario for $8 million. The building is located at 2800 Jurupa Street within IIT Hofer Ranch. The Tawain-based chassis manufacturer of computer equipment and products will use the space for its North American regional headquarters. It will relocate and expand from nearby 2888 E. Spruce Street. Chenbro Micom was represented by Andrew Herron of The Saywitz Company. The seller, Industrial Income Trust (IIT), was represented by CBRE’s Jim Koenig, David Consani, Dan de la Paz and Darla Longo.
GROVEPORT, OHIO — Seattle-based SK Food Group has signed a lease for the remaining 180,000 square feet of space at Opus Business Center, located at Rickenbacker 7 in Groveport, a southern suburb of Columbus, Ohio. Planned improvements to the facility include building out 16,000 square feet of office space, as well as adding multiple freezers, coolers and ancillary space to support the assembly area. The modifications to the space will allow 250 employees to work in the facility during each shift. Building features include a clear ceiling height of 36 feet and an ESFR sprinkler system. Jeff Lyons of CBRE represented SK Food Group, and Michael Linder from Colliers International was the listing broker. Founders Properties LLC owns Opus Business Center at Rickenbacker 7. Opus Development Co. LLC assisted with the lease agreement. Opus Design Build is the general contractor and Opus AE Group LLC provided design services for the facility improvements. Construction is slated for a June completion.
DANVERS, MASS. — CBRE/New England has arranged the $4.3 million sale of 18 Electronics Avenue in Danvers, a northern suburb of Boston. The 128,000-square-foot, former High Liner Foods facility was sold to 18 Electronics Ave LLC. The building is a frozen food plant that includes four spiral freezers, wash-down production rooms, refrigerated storage, waste pre-treatment and emission scrubbing. Mark Reardon and Jake Borden of CBRE represented the seller and procured the buyer.
PASADENA, TEXAS — Cushman & Wakefield has arranged a 185,000-square-foot flex space lease in the northern Houston suburb of Pasadena for Sunbelt Supply Co., a provider of valves and valve automation systems serving the petrochemical, refinery, power, wastewater and mining industries. The tenant, a subsidiary of Shale-Inland Holdings LLC, will occupy the building located at 3750 Highway 225 within the three-building Carson Commerce Center development. The structure includes 24,000 square feet of office space, a 15,000-square-foot automation facility and warehouse space with 30-foot clear heights. James Foreman, Stephen Schneidau and Beau Kaleel of Cushman & Wakefield represented Sunbelt Supply in the negotiations, while property owner The Carson Companies was represented in-house by Dan Zoch.
RICHMOND, CALIF. — KTR Capital Partners and Sponsor Properties have acquired Pinole Point, a master-planned industrial park in Richmond, for an undisclosed sum. The three-building park is located atthe intersection of Atlas Road and Giant Highway near the Bay Area. It allows for more than 515,000 square feet of Class A warehouse/distribution and manufacturing space. The land is fully entitled and ready for construction. The groundbreaking is scheduled for this summer. Pinole Point Phase I is currently 100 percent leased to tenants like Restoration Hardware, Serena & Lily, Broadline Medical, International Delicacies and Bio-Rad Laboratories. Sponsor Properties and KTR were brought together by Preferred Capital Advisors. Greig Lagomarsino of Colliers International’s Oakland office represented both the buyer and seller, Sares-Regis Group, in this transaction. Todd Severson of the same firm assisted with this transaction. Lagomarsino and Severson will serve as the park’s exclusive leasing agents.