HOUSTON — NAI Houston has arranged the lease of a 99,965-square-foot industrial building in northwest Houston. The warehouse facility, part of Silber Road Business Center II, is located at 1246 Silber Road. Office furniture company Jimenez Contract Services LLC will use the space as a distribution center. Jon Michael and Ed Bane of NAI represented the landlord in the negotiations. Bob Berry and Jeff Venghaus of Jones Lang LaSalle represented the tenant.
GARDEN GROVE, CALIF. – An affiliate of CT Realty Investorshas acquired a 210,000-square-foot industrial building in Garden Grove for $26 million. The facility is located at 12131 Western Ave. within the master-planned Garden Grove Business Center. It is fully leased to direct marketing company Money Mailer LLC. This is CT’s ninth industrial acquisition this year. The company represented itself in this transaction, while the unnamed seller was represented by Michael Hartel and Mike Bouma of Voit’s Irvine office.
ITASCA, ILL. — ARC Property Investment LLC has purchased a 40,134-square-foot flex building located at 150 Spring Lake Drive in Itasca, a western suburb of Chicago, for $2.3 million. Jeff Janda and Jim Planey, both principals, and Mike Plumb, senior vice president at Lee & Associates of Illinois LLC, represented the seller, Spring Lake Partners. Joe Karmin of Newmark Knight Frank Epic, represented the buyer in the transaction.
HOUSTON — Private real estate investment firm Brennan Investment Group LLC has acquired approximately 11 acres of land in northern Houston for the speculative construction of three crane-ready flex buildings totaling 110,000 square feet. The facilities are designed to meet the needs of manufacturing, assembly or distribution companies. Located near the interchange of I-45 and FM-1960, the site is in close proximity to the new ExxonMobil headquarters campus project. Brennan chairman and co-founder Michael Brennan cited 16 consecutive quarters of positive absorption and a 92.5 percent occupancy rate as the firm’s basis for moving forward with the development.
WASHINGTON, D.C. — NAI KLNB has arranged the $8.8 million sale of a 160,000-square-foot industrial building, located at 6501-5427 Chillum Place N.W. in Washington, D.C. The multi-tenanted building, constructed in 1961, is located near the intersection of Kansas Avenue and Blair Road. The property’s tenants include the United States Postal Service and Gelberg Signs. An affiliate of Spectrum Partners LLC purchased the property from 6500 Chillum Associates LP. Chris Kubler of NAI KLNB brokered the transaction.
CARLISLE, PA. — Dermody Properties, in partnership with Pacific Coast Capital Partners LLC (PCCP), has purchased 107 acres at Ames Drive in Carlisle, a southwest suburb of Harrisburg. The site will be the location of a two-building, master-planned industrial park, known as LogistiCenter Carlisle, totaling 1.3 million square feet. The first building, which is 700,000 square feet, is available for leasing. Dermody Properties says it will begin construction on a 602,250-square-foot building based upon the leasing progress of the existing building. LogistiCenter Carlisle is located one mile off Interstate 81. Dermody Properties is serving as the industrial developer and operating partner, and PCCP is serving as financial partner on the project.
SEGUIN, TEXAS — ElmTree Net Lease Fund II, an investment vehicle of St. Louis-based private equity investment firm ElmTree Funds, has acquired a 300,000-square-foot industrial property in the San Antonio suburb of Seguin for $22.6 million. FCA LLC, a third-party logistics provider for Caterpillar, leases the manufacturing and distribution facility, which is expandable to 395,000 square feet. Located at 1720 W. Kingsbury St., the property features 30-foot clear ceiling heights, 4,000 square feet of office space and two truck courts totaling 330 feet.
HOUSTON — NAI Houston has arranged the lease of 22,240 square feet for Tuff Shed, a provider of installed storage buildings and garages, in Houston’s Southwest Outer Loop industrial submarket. The tenant will occupy the entire freestanding warehouse facility located at 11526 Harwin Drive. Chris Kugle of NAI represented the tenant in the negotiations, while Clay Rubel of Colliers International represented the undisclosed landlord.
SPARTANBURG, S.C. — Rank Distributors Inc., a global sourcing service for the hospitality industry, has signed a lease with Chambers Street Properties, a net lease office and industrial REIT, for 342,096 square feet of space in Spartanburg. Rank Distributors signed the 10-year lease for space in Chamber Street’s Community Cash Complex, a five-building, 552,000-square-foot warehouse/distribution center property.
CANTON, OHIO — The Cooper Commercial Investment Group has arranged the $3.9 million sale of the Navarre Industrial Center, a 186,285-square-foot industrial and manufacturing facility in Canton. Dan Cooper, president and broker at Cooper Commercial Investment Group, represented the owners, a locally based private group. The buyers were a private group from the East Coast. The sale represents a 9.3 percent capitalization rate. Crown Cork & Seal, which recently signed a lease extension through 2020, anchors the fully occupied property. Other tenants at the property include Timken and Helios Coatings. The industrial facility features 12 docks, 40-foot clear ceiling heights, sprinklers and is within close proximity to I-77 and Route 30.