ROSEVILLE, MICH. — Brennan Investment Group LLC has acquired Dayco Products' Detroit production and distribution facility located at 16000 Common Road in Roseville, a northern suburb of Detroit. Dayco Products, a manufacturer of automotive belts, hoses, tensioners and pulleys, has operated from the property since 2009. Patrick Shannon and Mike Davidson of Newmark Grubb Knight Frank arranged the sale. Seller information was not disclosed.
Industrial
DALLAS AND DESOTO, TEXAS — USAA Real Estate Co. and Seefried Properties have broken ground on Southfield Park 35, a four-building, 2.3 million-square-foot industrial complex located primarily in Dallas and stretching into the neighboring city of DeSoto. The speculative Class A development is the largest in the Metroplex. Construction is underway on the first building, which will total 1.1 million square feet and is slated for completion by the end of the third quarter of this year. The second building will measure 678,600 square feet, and the third and fourth buildings will each offer 241,800 square feet. Terry Darrow, Kurt Griffin and Nathan Orbin of JLL are marketing and leasing the property.
FORT LAUDERDALE, FLA. — Berger Commercial Realty has arranged the $1.2 million sale of a 17,800-square-foot industrial property, located at 840 N.W. 57th Place in Fort Lauderdale. The property features 18-foot clear ceiling heights, three docks, a drive-in ramp door and a fenced side yard. A marine engineering company will be the tenant at the property. St. George Guardabassi represented the seller, Baer Investment Management, in the transaction. The buyer was Mareleng Inc.
CHICAGO – NorthMarq Capital’s Dallas-based regional office has arranged $57 million for the acquisition of the Premier Chicago Portfolio, eight industrial properties that total 1.5 million square feet in metro Chicago. Ronald Reese of NorthMarq arranged the financing for Westmount Realty Capital LLC through Goldman Sachs. The properties are located in the O‘Hare and Midway submarkets and include a mixture of single-tenant and multi-tenant properties.
EAST RUTHERFORD, N.J. – The Hampshire Cos. has sold a 135,498-square-foot industrial building located at 25 East Union Ave. in East Rutherford. Spanning nearly five acres, the industrial building features amenities such as 18-foot clear ceiling heights, four grade-level overhead doors, a mezzanine office area and three dock doors. The single-story industrial building is 98 percent leased to Mount Pleasant Ice Cream Co., Selco Associates and Steamaster Co. Inc. CBRE represented The Hampshire Cos. in the transaction.
SELMA, CALIF. — XTreme Manufacturing has leased 90,980 square feet of warehouse space in Selma. The building is located at 1775 Park Street in Fresno County. The landlord is Magellan Central Valley I, LLC. The lease transaction was executed by Ethan Smith and Ron Stoltenberg of Newmark Grubb Pearson Commercial.
PLAINFIELD, IND. — Chambers Street Properties has acquired a single-tenant warehouse/distribution property in metro Indianapolis for $30.2 million. Built in 2013, the 622,440-square-foot property features 32-foot clear ceiling heights and 60 truck doors with knockout panels for future expansion. The building is fully leased on a long-term, triple-net basis to a nationwide manufacturer of pet products. The acquisition also includes an adjacent land parcel suitable for 227,000 square feet of expansion. The property is located at 445 Airtech Parkway in Plainfield.
PASADENA, TEXAS — Cadence McShane Construction Co. has completed a three-building, 365,462-square-foot flex complex in Pasadena, a suburb southeast of downtown Houston. The property, located at 3700-3800 Highway 225, includes a 118,500-square-foot front-load facility featuring 30-foot clear heights and 18 dock doors; a 185,168-square-foot flex building featuring both office and warehouse components; and a 61,274-square-foot, crane-served flex structure. The complex is located within the Carson Commerce Center, a 20-acre development of The Carson Companies. Each of the buildings can serve either a single tenant or multiple occupants. Powers Brown Architecture provided architectural services for the project.
MIAMI — Miller Construction Co. has begun site work for Flagler Global Logistics’ new 252,000-square-foot Building 34 at the 900-acre Flagler Station business park in Miami’s Airport West submarket. Miller Construction previously delivered the park’s 171,944-square-foot Building 31. The new property will be located at 9290 N.W. 112 Ave. and will feature 30-foot clear ceiling heights. Architectural firm Ware Malcomb designed the tilt-wall structure. The building is 87 percent preleased to Starboard Cruise Services.
COMMERCE, GA. — Hillwood Investment Partners, in a partnership with Brookfield Asset Management and the Hillwood-Brookfield Industrial Partners fund, has signed Ollie’s Bargain Outlet Inc. to a 962,280-square-foot industrial lease. The bargain retailer has leased space at Commerce 85 Distribution Center in Commerce as its distribution hub for the Southeast. The property is located at 1523 Steve Reynolds Industrial Blvd. The property is Ollie’s first distribution center in Georgia. John Van Buskirk of Jones Lang LaSalle represented Ollie’s in the lease transaction. Greg Haynes of CBRE Inc. brokered the lease on behalf of Hillwood.