CHICAGO — NelsonHill has arranged the sale of three properties on the north side of Chicago totaling $5.3 million. Intrinsic Charter School has purchased the former Shannon Lumber facility at 4540 W. Belmont Ave. The property features a 40,000-square-foot lumber shed and wholesale building situated on 2.3 acres. Shannon Lumber was the owner and operator for 72 years before liquidating the business and listing the property for sale with NelsonHill. Marino Dodge purchased the remaining Gateway Chevy portfolio at 5349-5389 N. Milwaukee Ave. The property consists of two showroom buildings and spans 21,400 square feet. Mark Nelson and Michael Nelson, principals at NelsonHill represented the ownership in the transaction. Duray Electric sold its building at 2050 W. Balmoral Ave. in Chicago. The 57,000-square-foot building features 16- to 24-foot clear ceiling heights with parking. Frank Melchert, senior vice president with NelsonHill, represented the buyer, a private local investor, and the seller in the transaction.
OMAHA, NEB. — Q10 | Daisley Ruff Financial has arranged $3.3 million in financing for the acquisition of a 117,700-square-foot, 480-unit storage and industrial facility in Omaha. The borrower, Jasper Stone Cherry Hills LLC, received a non-recourse, 15-year loan that includes a fixed interest rate and a 25-year amortization schedule. Bob Chalupa, senior vice president of Q10 | Daisley Ruff Financial, arranged the financing through a correspondent lender.
OVERLAND, MO. — Front Row Produce has purchased a 53,000-square-foot building in Overland, a northwest suburb of St. Louis, for $2.5 million. The St. Louis-based produce distributor will move to its new building at 162 Belt Way Drive in March. Front Row Produce plans to invest $500,000 in renovations for office space, cooler walls and racking systems. Scott Martin of Hilliker Corp. represented the buyer and the seller, Ken-Yatta LLC, in the transaction. The company, which sells to both foodservice distributors and retail stores, was previously located at 2427 N. Ninth St. in a 23,000-square-foot building.
HOUSTON — Finial Group has purchased a nine-acre tract at the intersection of Kieth Harrow Boulevard and Barker Cypress Road for the construction of Bear Creek Industrial Park, a 60,000-square-foot speculative development. The complex, which will include two 30,000-square-foot, crane-capable buildings, will feature outside storage. Each structure will be offered for sale or lease. The first building is scheduled to break ground this month and will be ready for occupancy in May.
CONWAY, S.C. — Calkain Cos. has closed on the sale of two industrial properties located in Conway, part of the Myrtle Beach MSA. The properties’ tenants include homebuilder suppliers Pro-Build and Builders FirstSource. Calkain Cos. represented the sellers of both properties.
CHICAGO AND LYONS, ILL. — Bridge Development Partners LLC has arranged two leases totaling more than 100,000 square feet at cold storage facilities in Chicago and Lyons. Bridge completed a new 59,121-square-foot lease with Miami-based Quirch Foods Inc. at 8424 W. 47th St. in Lyons, and separately, at another cold storage facility at 2658 S. Leavitt St. in Chicago, the firm renewed tenant Alpha Baking Co. in a 10-year, 53,644-square-foot lease.New tenant Quirch, established in 1967, is a distributor, importer and exporter of food products to the food retail and food service industries and will open its first Midwest location at the 314,000-square-foot cold storage facility.In the new lease, Quirch was represented by Scott Duerkop and Conor Mullady of Jones Lang LaSalle, while the ownership was represented by Steve Connolly and Larry Much of NAI Hiffman. Dennis Salinas of Lowenbaum REP represented Alpha in the lease renewal.
HOUSTON — NAI Houston has brokered the sale of a 67,000-square-foot industrial property in northwest Houston to Leeco Steel, a plate steel distributor. Situated on seven acres of land at 8655 Golden Spike Road, the crane-served facility offers rail service capabilities and a build-out configuration. Clay Pritchett of NAI Houston represented the buyer in the transaction. John Ferruzzo and Michael Keegan, also of NAI Houston, represented the seller, 8655 Golden Spike LLC.
WEST DES MOINES, IOWA — Hubbell Realty Co. is continuing development of the Grimes Distribution Center in West Des Moines with a third building, 1400 SE Gateway Drive, located directly west of the current facilities at 1300 and 1350 SE Gateway Drive. The new facility will be identical to the other buildings and total 110,000 square feet and feature 24-foot clear ceiling heights. Construction is slated to begin this spring and is scheduled for occupancy in late fall 2014.
CHICAGO — The Frame Factory has sold its 18,000-square-foot warehouse/office building and adjacent 10,000-square-foot parking lot in Chicago for $1.6 million. The custom framing company relocated to a 13,500-square-foot building at 3924 W. Devon Ave. in Lincolnwood. Lee French and Pat McGuire of @properties Commercial represented the Frame Factory in the transaction. Mitch Goltz of Chody Real Estate represented the buyer, Chicago-based PERL Mortgage, which is nearly doubling its space from its current headquarters on Belmont Avenue in Avondale. The property is located at 3400 N. Pulaski Road in Chicago’s Irving Park neighborhood.
HACKENSACK, N.J. — The Hampshire Cos. has sold a 45,313-square-foot industrial building located at 530 Huyler St. in Hackensack. Park Avenue Motor Corp. Inc., which has occupied the building since 2006, purchased the property. The industrial building spans across 3.5 acres and is located less than 10 miles from New York City. In 2009, the building was renovated into an automobile service facility that features amenities such as 16-foot ceiling heights, four grade-level overhead doors, 47 lifts, a customer lounge and office space.