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.
Industrial
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.
HUNTINGTON BEACH, CALIF. — Mitsubishi Electric Automotive has signed a 10-year lease for a 167,778-square-foot industrial building in Huntington Beach. The space is located at 5800 Skylab Road near the 405, 22 and 605 freeways. This is the second largest (by square footage) new lease to close in West Orange County in the past four years, according to CBRE, which represented the landlord, Morgan Stanley, in this transaction. The space will serve as Mitsubishi Electric Automotive’s regional headquarters for the company’s United States West Coast manufacturing and distribution. It will allow Mitsubishi to consolidate three of its Southern California facilities, while providing an opportunity for expansion over the next 10 years. Mitsubishi Electric Automotive was represented by Louis Tomaselli and Mitch Lundquist of JLL Orange County.CBRE’s Steve Young, Rick McGeagh and Bob Goodmanson represented Morgan Stanley.
CHARLOTTE, N.C. — Trinity Partners has arranged the $11.1 million sale of the 200,000-square-foot Arrowridge Business Park in southwest Charlotte. The property features four flex buildings located at 8107, 8227, 8301 and 8041 Arrowridge Blvd. The property is currently 83 percent leased to tenants such as Hobart Corp., Bonsal American, Sears Home Improvement, CentiMark Corp. and Miller Electric Co. Dunn Mileham of Trinity Partners represented the seller, a Florida-based investor group, in the transaction. The buyer is Virginia-based Medalist Properties.
COPPELL, TEXAS — ML Realty Partners LLC has purchased Park West Crossing, a 98-acre parcel in the Dallas suburb of Coppell, and plans to build a 307,500-square-foot industrial complex on the site. The four-building development will include structures suitable for single- or multi-tenant use, ranging in size from 40,600 square feet to 142,500 square feet. The tract is located just north of DFW International Airport and is bordered by Freeport Parkway to the west, Southwestern Boulevard to the north and South Belt Line Road to the east.