SAN DIEGO – A 115,290-square-foot industrial building in the San Diego submarket of Otay Mesa has sold to Niceride 1 LLC for $8.1 million. The building is located at 8851-8877 Kerns Street within the master-planned Siempre Viva Business Park. Otay Mesa Leasing recently signed a new 10-year lease at the park. The building will serve as the firm’s corporate headquarters. Regan Tully of Cassidy Turley’s Otay Mesa office represented both Niceride and the sellers, JJB Silverhawk, LP and VCH No. 1 LP, in this transaction.
Industrial
GOODYEAR, ARIZ. — Schoeller Arca Systems has leased 77,046 square feet of space at Goodyear Crossing Industrial Park. The park is located at 3801 S. Cotton Lane in Goodyear. The Netherlands-based plastic injection molding manufacturer leased this warehouse and distribution space because it is situated across from its 150,000-square-foot manufacturing facility. Schoeller Arca Systems represented itself in this transaction, while the landlord, Duke Realty, was represented by Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE’s Phoenix office.
BUENA PARK, CALIF. — Manhattan Beachwear has leased a 191,000-square-foot warehouse and distribution facility in the Orange County submarket of Buena Park. The new space is located at 6300 Valley View Street, near the 5 Freeway and Route 91. It will allow the swimwear retailer to consolidate three of its existing locations. The distribution center was built in 1976. It received significant upgrades in 2006. Manhattan Beachwear was represented by Rooney Daschbach and Eric Daschbach of Cushman & Wakefield. The unnamed landlord was represented by Richard Ellison and Randy Ellison of the same firm.
ROSEVILLE, MINN. — Meritex has broken ground on the Highcrest Distribution Center, a 130,000-square-foot industrial project in Roseville, a suburb of Minneapolis. The property is located at 2400 Terminal Road. The project will have 32-foot clear height ceilings, up to 40 dock doors, ESFR sprinkler system, and can be subdivided to accommodate smaller tenants. The building will also have access to the Minnesota Commercial Railway. The project will be ready for occupancy in November 2014. Pope Architects designed the project. R.J. Ryan is the general contractor. Matt Oelschlager, John Ryden and Mike Bowen of CBRE are marketing the property for lease. The 9-acre development site was part of a larger 42-acre site that Meritex began marketing to users in 2009.
PETALUMA, CALIF. – A 186,000-square-foot industrial property in Petaluma has sold to Lowenberg & Associates for an undisclosed sum. The multi-tenant property is located at 2200-2240 South McDowell Blvd. It is currently occupied by Thermo Fisher Scientific and Dr. Pepper Snapple Group. Glen Dowling, Tony Sarno, George Eckard, Seth Siegel, Adam Lasoff and Grant Lammersen of Cushman & Wakefield represented both the buyer and the seller, 2200-2240 South McDowell, LLC, an affiliate of PB&J Acquisitions and Investcorp, in this transaction. Dowling and Sarno are currently marketing the remaining 46,440 square feet for lease.
SANTA ANA, CALIF. — Goodwill Industries of Orange County has leased 37,228 square feet of industrial space in Santa Ana. The property is located at 2250 S. Yale Street. It will serve as the company’s e-commerce and retail warehousing center. Goodwill was represented by JLL's Matt Christensen. The landlord, Skeffington Enterprises, was represented by CBRE.
ROCHESTER HILLS, MICH. — L. Mason Capitani CORFAC International has brokered the sale of a multi-tenant industrial facility to an undisclosed buyer in Rochester Hills. Based on the current net operating income, the 49,686-square-foot building traded at a 9.8 percent capitalization rate. The facility, located at 2703-2727 Product Drive, was fully occupied at the time of sale. TI Automotive and Gexpro are currently tenants at the building. Jason Capitani and Garry Rogers of L. Mason Capitani represented the seller, Kevin Buchanan, in the transaction.
MILWAUKEE — The Dickman Co. Inc./CORFAC International has arranged the lease of a 30,000-square-foot industrial space in Milwaukee. Wenniger Compressor Co. will occupy space located at 3745-55 N. Richards St. Samuel M. Dickman Jr., Samuel D. Dickman and Anthony Huenerbein of the Dickman Co. represented the landlord, Richards Industrial LLC, in the transaction. Tony Haning of Jones Lang LaSalle represented the tenant, Wenniger Electric doing business as Wenniger Compressor Co.
NEW YORK CITY — Eastern Consolidated has arranged the sale of 37-10 Crescent Street, a warehouse property in Long Island City. GMS Seashore sold the 18,000-square-foot property to 37-10 Crescent Street LLC for $6.5 million. A limousine company, whose lease expires in May 2015, currently occupies the one-story building. The lease includes one five-year option and demolition clause that may be exercised with a six-month notice. The asset site totals 36,552 buildable square feet. Peter Carillo and Chad Ian Sinsheimer of Eastern Consolidated represented the seller in the transaction. Additionally, Carillo procured the buyer for the deal. The attorney for the seller was Farrel Fritz, and Seth Stein, Esq. was the attorney for the buyer.
BOHEMIA, N.Y. — Snapple, along with its parent company Dr. Pepper, has leased 51,734 square feet at 2004 Orville Dr. North in Bohemia. Owned by Rechler Equity Partners, the one-story 106,515-square-foot building offers 24-foot clear ceiling heights and convenient access to Veterans Memorial Highway, the Long Island Expressway and Sunrise Highway. Snapple is moving its Long Island operations to the new facility. Ted Trias of Rechler Equity Partners represented the ownership, while Philip Heilpern of CBRE represented the tenant in the transaction.