LEWISVILLE, TEXAS — The firm of Henry S. Miller has brokered the sale of a 24,275-square-foot flex property in the Dallas/Fort Worth suburb of Lewisville. Located on 1.5 acres at 1210 Metro Park Blvd., the facility offers both warehouse and office space, as well as easy access to Highway 121 and Interstate 35. Dan Spika of Henry S. Miller represented the seller, Britestar Group, in the transaction. Mark Graybill of Lee & Associates represented the buyer, Team Taylor Investments LLC.
Industrial
TOMBALL, TEXAS — Coldwell Banker Commercial United Realtors (CBCUR) has brokered the sale of a two-building, 10,200-square-foot industrial property in Tomball, a northwest suburb of Houston. Built in 1985, the structures feature 14-foot clear heights, three bay doors each and a showroom space. Located at 14695 Brown Road, the complex offers close proximity to State Highway 249. Patrick Buckhoff of CBCUR represented the seller, Action Window Covering Inc., while Tom Carter of greater Houston Commercial Properties represented the buyer, Joe Laughlin.
DALLAS — Marcus & Millichap has brokered the sale of Dilido Warehouse, a 60,088-square-foot industrial property in Dallas. Constructed in 2003, the Class B multi-tenant facility is located at 3680 Dilido Road, in close proximity to Loop 12, Interstate 30 and Interstate 80. Roger Hendricks and Myles Ytem of Marcus & Millichap marketed the property on behalf of the seller, a partnership. The two also procured the buyer, an institutional investment firm from California, within four days of listing.
LANCASTER, TEXAS — Colliers International has arranged a 106,333-square-foot industrial lease in Lancaster, a suburb approximately 15 miles south of downtown Dallas. iGPS Logistics, a manufacturer and distributor of plastic pallets, will occupy the space, which is located within the Prologis Park 20-35 development at 2200 Danieldale Road. Allen Gump, Allyson Gump, Robert Badgero and Steven Badgero of Colliers represented the tenant in the negotiations. Nathan Orbin of Jones Lang LaSalle represented the landlord, an entity of Prologis Inc. known as PACGWL LLC.
GLENVIEW, ILL. — Illinois Tool Works (ITW), a Fortune 200 industrial manufacturer, has acquired the vast majority of the former Kraft Foods Group Inc. campus in Glenview, a northern suburb of Chicago. Terms of the transaction were not disclosed. The campus is located four miles southeast of ITW’s former location at 3600 W. Lake Ave. Global commercial real estate services firm Studley represented ITW in the site search and final transaction. The land ITW purchased from Kraft includes 49 acres and two office buildings spanning 503,000 square feet combined. Kraft vacated the Glenview campus as part of the splitting of its grocery and snack businesses. Rick Schuham, executive vice president and co-branch manager of Studley’s Chicago office, represented ITW in the transaction. John Goodman and Eric Feinberg, also of Studley, assisted Schuham. Paul Sheridan of Hamilton Partners assisted in the transaction.
TOTOWA, N.J. — Terreno Realty Corp. has sold an industrial property in Totowa, located about 16 miles northwest of Newark, for $19 million. The distribution building spans approximately 208,000 square feet and was purchased by the tenant, which fully occupies the property. Terreno Realty Corp. acquired the property in September 2010 for $16.5 million.
LOS ANGELES – The 39-acre site of the future Pacific Business Center, an industrial development in the Los Angeles submarket of Bell, has received $73.8 million in financing. The funds will be used to acquire and develop the project. The site was acquired by Pacific Industrial for more than $44 million. It will be located at 5600 Rickenbacker next to the 710 Freeway. The land was the former World War II Cheli Air Force Base GSA site. It was entitled for 840,390 square feet of development. Pacific Industrial plans to develop a three-building, Class A industrial campus totaling about 550,000 square feet in the first phase of development. Construction will commence immediately and is scheduled for completion next October. The seller, the City of Bell, was represented by CBRE’s John Privett and Cameron Merrill. The non-recourse loan was arranged by HFF’s Brian Torp and Don Curtis through a global investment firm.
RICHMOND, VA. — Manekin LLC, a commercial real estate investment and development company based in Columbia, Md., has acquired a three-building, 617,232-square-foot distribution portfolio in Richmond’s airport submarket for $19.7 million from an institutional owner. The buildings, which are part of the Interport Business Center, are 60 percent leased. The buildings feature 18- to 27-foot clear ceiling heights, 83 rear-loading docks and nine drive-in docks. Dan Freedman and Chris Beck of Draper and Kramer’s Chicago office arranged financing through the American National Life Insurance Co. of Texas.
ST. LOUIS — GL Group Inc., a nearly 40-year-old local book wholesaler, has signed a two-year lease for a 38,000-square-foot building in the Midtown area of St. Louis. The company is moving from its previous book binding facility in Steelville. The new facility is located a few miles from GL Group’s corporate headquarters at 5111 Southwest Ave. and its 67,000-square-foot Booksource division located at 1230 Macklind Ave. Hilliker Corp., represented the tenant and the landlord in the transaction.
LOS ANGELES – The 39-acre site of the future Pacific Business Center, an industrial development in the Los Angeles submarket of Bell, has received $73.8 million in financing. The funds will be used to acquire and develop the project. The site was acquired by Pacific Industrial for more than $44 million. It will be located at 5600 Rickenbacker next to the 710 Freeway. The land was the former World War II Cheli Air Force Base GSA site. It was entitled for 840,390 square feet of development. Pacific Industrial plans to develop a three-building, Class A industrial campus totaling about 550,000 square feet in the first phase of development. Construction will commence immediately and is scheduled for completion next October. The seller, the City of Bell, was represented by CBRE’s John Privett and Cameron Merrill. The non-recourse loan was arranged by HFF’s Brian Torp and Don Curtis through a global investment firm.