FONTANA, CALIF. — REDA Bascom Ventures has purchased 16 acres of land in Fontana for an undisclosed sum. The joint venture between Real Estate Development Associates (REDA) and The Bascom Group plans to develop a 350,000-square-foot industrial/distribution building on the site. The land is located at 11100 Hemlock Ave. It sits adjacent to the JM Eagle Fontana manufacturing facility. REDA Bascom was represented by Kevin McKenna and Scott Sanders of Colliers International. The seller, JM Eagle, was represented by Rustin Mork, Anthony Dedeaux and Brett Dedeaux of Bingswanger Realty Advisors. REDA is currently looking for more development opportunities in the Inland Empire, Orange County and Los Angeles industrial markets.
SUN PRAIRIE, WIS. — STAG Industrial Inc. has added a new tenant, which will occupy 427,000 square feet, to its warehouse and distribution property in Sun Prairie, a northern suburb of Madison. The new tenant is a major domestic catalog merchandising company and the lease has a term of more than 10 years. STAG Industrial Inc. is a full-service real estate company focused on the acquisition, ownership and management of single-tenant industrial properties throughout the United States. The company's portfolio includes 200 properties in 34 states with approximately 35.3 million rentable square feet.
INDEPENDENCE, MO. — Fresh Warehousing has signed a 108,926-square-foot industrial lease at 1600 N. State Route 291 in Independence, an eastern suburb of Kansas City. Woodmen of the World Life Insurance Society, based in Omaha, Neb., owns the property. Cameron Duff and Doug Hedrick of Colliers International represented Fresh Warehousing in the transaction. John Smith of LS Commercial Real Estate represented the landlord. Fresh Warehousing is a third-party logistics company that owns and operates more than 3 million square feet of warehouse space in the greater St. Louis and Indianapolis metropolitan areas.
PASADENA, TEXAS — WIKA Process Solutions LP, a manufacturer of industrial measuring instruments, has purchased 13 acres for a new build-to-suit facility to be developed by GSL Welcome Group. The land is located in Park 225, a business park in Pasadena, approximately 14 miles southeast of downtown Houston. The plans for the development call for a two-story, 87,900-square-foot building including 44,025 square feet of office space and a 43,875-square-foot crane-served warehouse. Ryan Wasaff of GSL Welcome Group and Wade Bradow, owner of Park 225, collaborated on the transaction. Kingham Dalton Wilson LTD will perform design build construction services.
UNION CITY, CALIF. — The former Chronicle Printing Plant in Union City has sold to Westcore Properties for an undisclosed sum. The plant is located at 1550 Pacific Street. The building will be demolished to make way for a 300,000-square-foot manufacturing and distribution redevelopment that will cater to food production and distribution. Westcore was represented by Kevin Hatcher, Mark Maguire and Greig Lagomarsino of Colliers International in Oakland. The seller, Hearst Communications, was represented by John McManus and Andrew Briner of Cushman and Wakefield.
CONCORD, N.C. — The Silverman Group, a New Jersey-based real estate investor and developer, is constructing a 400,000-square-foot speculative industrial building within Concord Airport Business Park in Concord. The cross-dock building will be located on 56 acres and feature 36-foot ceiling heights, 40 docks, 100 trailer parking spaces, an ESFR sprinkler system, T5 lighting and office space. Construction is slated to begin in the first quarter of 2014 with completion slated for late summer. The site will also feature a pad-ready, 125,000-square-foot industrial building adjacent to the main building. Christopher Skibinski of Avison Young’s Charlotte office has been retained as the leasing agent for the project.
HOUSTON — NAI Houston has brokered the sale of a 302,800-square-foot industrial property at 6501 Navigation Blvd. in Houston’s Downtown Eastside Industrial submarket. The building, a warehouse facility situated on 21.5 acres, houses multiple tenants. Clay Prichett of NAI Houston represented the buyer, Quasar Navigation LTD. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented the seller, GSL Navigation SUB 34 LLC.
CEDAR PARK, TEXAS — Cadence McShane Construction Co. has completed Scottsdale Crossing Building One, a speculative light industrial/office flex property totaling 27,500 square feet in Cedar Park, approximately 20 miles north of Austin. Located at 5900 Highway 183-A, the property is part of developer TIG Real Estate Services’ larger Scottsdale Crossing Commerce Park development. Built for a single or multiple tenants, the single-story facility features a tiltwall panel exterior, overhead dock doors and aluminum windows. Studio 8 Architects, based in Austin, provided architectural services for the project.
UNION CITY, CALIF. — The former Chronicle Printing Plant in Union City has sold to Westcore Properties for an undisclosed sum. The plant is located at 1550 Pacific Street. The building will be demolished to make way for a 300,000-square-foot manufacturing and distribution redevelopment that will cater to food production and distribution. Westcore was represented by Kevin Hatcher, Mark Maguire and Greig Lagomarsino of Colliers International in Oakland. The seller, Hearst Communications, was represented by John McManus and Andrew Briner of Cushman and Wakefield.
ELGIN, ILL. — DCT Industrial Trust Inc. has acquired DCT Fox River Business Center, a six-building industrial portfolio in Elgin, a suburb of Chicago. The portfolio totals 1.1 million square feet and has a current occupancy rate of 59.1 percent. The buildings range from 73,000 to 431,000 square feet and are in proximity to the O’Hare Airport. Noel Liston, principal at Darwin Realty & Development, represented DCT Industrial in the transaction.