DALLAS — Billingsley Co. has leased 50,068 square feet of industrial space at its Mercer Business Park in Dallas to Paragon Distributing Co., a wholesale distributor of indoor and outdoor appliances. The tenant will occupy space in the northwest corner of the park’s 340,000-square-foot distribution center. Craig Phelps and Michael Haggar of JLL represented Paragon, which will occupy the space beginning in the first quarter of 2015. Billingsley Co. is developing the 225-acre Mercer Business Park at the northwest corner of I-635 and I-35.
Industrial
LOS ANGELES — The Magellan Group has acquired a 26.8-acre site in El Monte for $20.5 million. The site is located at 4127-4213 Temple City Blvd. The company plans to develop a five-building industrial campus totaling 500,000 square feet. It is scheduled for completion in the third quarter of next year. The $55-million campus will be developed in a joint venture with Principal Real Estate Investors. Magellan also recently acquired industrial and storage properties in nearby Duarte, Riverside and Baldwin Park. The seller was a joint venture between Penwood Real Estate Investment Management and Wohl Property Group. John Minervini, Erik Larson, Robin Dodson and Chris Tolles of Cushman & Wakefield represented both parties in this transaction.
SAN BERNARDINO, CALIF. — Alere Property Group has acquired a 592,710-square-foot logistics facility in San Bernardino for $34.4 million. The newly constructed facility is located at 701 S. Arrowhead Ave. It sits adjacent to Interstate 215. The facility is situated along the same corridor as Amazon’s new distribution center. The corridor is also home to other e-commerce and major national retailers. Notable neighbors include Hewlett-Packard, Home Depot, Kohls, Mattel, Pepsi, Smuckers, Becton Dickinson, FedEx, Kohler, Michelin, Pactiv Corporation, Pep Boys, Spectrum Brands, Stater Brothers and Unilever. This area is known for its easy access to Interstate 15, as well as the Pomona (60), Riverside (91) and San Bernardino (10) freeways. It also enjoys direct access to the ports of Los Angeles and Long Beach, and to Ontario International Airport. Alere was represented by Kevin McKenna of Colliers International. McKenna will also serve as the property’s exclusive leasing broker, along with CBRE’s Walt Arrington and Jeff Linden.
WHITSETT, N.C. — Charlotte-based Beacon Partners has purchased a 520,000-square-foot, fully leased distribution center in Whitsett, about seven miles from Greensboro. The property is located at 6550 Judge Adams Road, within Rock Creek Center. The distribution center sits on a 30-acre parcel located less than one mile from I-85 and with immediate proximity to the I-40 and I-85 interchange. The property features 28-foot clear heights, a truck court with dock-high and drive-in loading and a ESFR sprinkler system. Beacon Partners’ industrial portfolio in the Carolinas spans 5.5 million square feet. Gregg Copps and Lawrence Shaw of Colliers International represented Beacon Partners in the transaction. Dodson Schenck and Greg Wilson of CBRE represented the seller.
ALSIP, ILL. — Sperry Van Ness has arranged the $1.1 million sale of a 42,500-square-foot industrial building in Alsip, a southern suburb of Chicago. The building is located at 4101 W. 124th Place. The Shred Authority, a professional paper shredding service, purchased the property, which had been vacant for three years. Beverly Hayes of Sperry Van Ness represented the buyer. Robert Barr of Strategic Advisors represented the seller, Praxair Surface Technologies Ltd.
NEW HAVEN, CONN. — C. Cowles & Co. has acquired a manufacturing/warehouse facility located at 100 Kenna Dr. in North Haven from The Freedom Group Family of Companies for an undisclosed price. Situated on 23.5 acres, the 226,000-square-foot warehouse/manufacturing property offers 206,000 square feet of manufacturing space and 20,000 square feet of office space. Built in the 1960s, the facility also features 18-foot clear ceiling heights, 40- by 40-foot column spacing and a wide-open floor plan. The buyer, a precision metal stamping company, plans to consolidate two business units in one facility. Jim Panczykowski of Binswanger’s New Haven office handled the transaction.
SOUTH BRUNSWICK, N.J. — Colonna Brothers Inc. has acquired 319 Ridge Road in South Brunswick for an undisclosed price. The 121,361-square-foot industrial facility features sections of 20- to 30-foot high ceilings, 42- by 42-foot column spacing, 17 tailboards and one drive-in. Mark Tannen of United Realty Advisors represented the buyer, while Robert Sager and David Blitt of Bussel Realty Corp. represented the seller, 319 Ridge Road Associates LLC, in the transaction.
NORTH BERGEN AND PARSIPPANY, N.J. — Cushman & Wakefield has brokered deals to facilitate the relocation of Hudson News Distributors from North Bergen to Parsippany. Bergen Logistics purchased Hudson News’ 23-acre, 475,000-square-foot headquarters located at 5903 Westside Ave. in North Bergen for an undisclosed price. In conjunction with the disposition, Cushman & Wakefield arranged the lease of 701 Jefferson Road in Parsippany for Hudson News. The company will use the 135,000-square-foot former Coca-Cola distribution facility as its new headquarters. Scott Perkins of NAI James E. Hanson represented the landlord, Jofra Realty, in the lease transaction. Bonni Heller, Richard Baumstein, Andrew Merin and Gary Gabriel of Cushman & Wakefield represented Hudson News in the transactions.
FARMERS BRANCH, TEXAS — Cassidy Turley has arranged a 30,000-square-foot industrial lease in the Dallas/Fort Worth suburb for PIRCH Inc., a provider of kitchen, bath, laundry and homeware products. The tenant will occupy distribution center space at 4521 Simonton Road, in proximity to the NorthPark Mall project, which is the future site of a PIRCH showroom. The warehouse facility, situated near the interchange of I-635 and the Dallas North Tollway, features 2,000 square feet of office space and four dock-high doors. Blake Anderson, David Eseke and Tom van Betten of Cassidy Turley represented PIRCH in the negotiations. Peter Yates of Lincoln Property Co. represented the landlord, The Realty Associates Fund.
HOUSTON — NAI Houston has brokered the sale of a 14,000-square-foot industrial building in Houston. The facility is located on a 1.6-acre parcel at 3741 Trailmobile Drive, in proximity to I-610. Chris Caudill of NAI Houston represented the seller, Patrick Walton, in the transaction. Reese Brown of Miramont Interests LC represented the buyer, Phillip Collins.