BEDFORD PARK, ILL. — Bedford Industrial Center LLC has sold a 30-acre industrial site in metro Chicago to the city of Bedford Park and Reavis High School. The purchase price was undisclosed. The site formerly housed a multi-story industrial complex that was demolished by the previous owners three years ago. Located south of Midway Airport at 5401 W. 65th St. in Bedford Park, the site is in proximity to Central and Cicero avenues and I-55. Larry Much and Mark Moran, both executive vice presidents with NAI Hiffman’s industrial services group, represented the buyer and the seller in the transaction.
MILWAUKEE — FedEx Ground Package System Inc. has signed a lease for 58,500 square feet of industrial space at 5110 S. 6th St. in Milwaukee. Samuel M. Dickman Jr. and Samuel D. Dickman represented the landlord, CJF2 LLC, and FedEx in the transaction.
EAST HANOVER, N.J. — Terreno Realty Corp. has acquired an industrial property located in East Hanover for $20 million. The estimated stabilized cap rate of the property is 7.4 percent. The property includes three multi-tenant industrial buildings totaling 167,000 square feet. The buildings are located on Melanie Lane and are approximately 94 percent leased to 37 tenants.
ATLANTA — Colliers International has arranged $80.9 million in financing for a portfolio of 31 industrial properties in metro Atlanta. The 3.1 million-square-foot portfolio is 91 percent leased. Hank Hall and Kevin Troy of Colliers International's Atlanta office arranged the non-recourse, floating rate loan on behalf of Clarion Partners. Prudential Insurance Co. of America provided the loan.
NORTH AURORA, ILL. — USAA Real Estate Co. has acquired 32 acres in suburban Chicago and has contracted The Opus Group to develop, design and construct a 604,565-square-foot speculative industrial building. USAA Real Estate Co. will own the building. The speculative building will be located in proximity to I-88 in North Aurora. The building will feature 32-foot clear ceiling heights, 60 docks, 103 trailer parking spaces, office space and future expansion capabilities to 1 million square feet. Construction is slated to begin in early October, with completion scheduled for June 2014. Opus Design Build LLC will construct the building, and Opus AE Group LLC will serve as project architect. Opus also purchased an adjacent 25-acre parcel, which is available for build-to-suit opportunities or building expansion. Brendan Kelly of Avison Young represented USAA in the land transaction.
MESQUITE, TEXAS — Proterra Properties Inc. has purchased a 31,650-square-foot industrial building in Mesquite, a suburb of Dallas approximately 13 miles east of downtown. Situated on 5.7 acres at 2615 Big Town Blvd., the property is currently occupied by Cummins Southern Plains LLC and includes 4,000 square feet each of office space and showroom space. Dave Anderson of CBRE represented both Proterra and the seller, the name of which was not disclosed in the negotiations.
SUN VALLEY, CALIF. — Sugar Foods has restructured and renewed its lease for 168,000 square feet in Sun Valley. The Class A manufacturing facility is located at 9545 San Fernando Road. The maker of Sweet n’ Low was in the fifth year of a seven-year term. Its new lease extends Sugar Foods’ occupancy an additional five years. Sugar Foods was represented by Bart Pucci of Studley. The landlord, Invesco, was represented by John DeGrinis of Colliers.
SUMMERVILLE, S.C. — Chambers Street Properties, a net lease industrial and office real estate investment trust, has signed an unnamed tenant to a 450,000-square-foot lease at Jedburg Commerce Park, a Chambers Street warehouse/distribution property in Summerville. Jedburg Commerce Park was built in 2007 and acquired by Chambers Street in the same year. Chambers Street owns and operates more than 3.6 million square feet of warehouse/distribution properties in South Carolina.
IRVING, TEXAS — Taylor-Deal Aviation will relocate its headquarters approximately seven miles south of its current Northwest Dallas home to 911 Maryland Drive in Irving. The new facility totals 68,500 square feet of office and manufacturing space and has been unoccupied since it was vacated by Project Services Group in 2011. Paul Blight of Glacier Commercial represented Taylor-Deal in the lease negotiations. Blight will also market the facility previously occupied by Taylor-Deal.
SUN VALLEY, CALIF. — Sugar Foods has restructured and renewed its lease for 168,000 square feet in Sun Valley. The Class A manufacturing facility is located at 9545 San Fernando Road. The maker of Sweet n’ Low was in the fifth year of a seven-year term. Its new lease extends Sugar Foods’ occupancy an additional five years. Sugar Foods was represented by Bart Pucci of Studley. The landlord, Invesco, was represented by John DeGrinis of Colliers.