TEMPE, ARIZ. – A 60,458-square-foot, mixed-use property in Tempe has sold to Enright Roosevelt Tech, LP for $5 million. The flex/manufacturing property is located at 528 West 21st Street. Enright plans to hold the fully occupied building as an investment property. The company was represented by Paul Boyle and Rick Danis of Cassidy Turley’s Industrial Group. The seller, RBI Industrial Properties I, LLC, was represented by Tim Benson of Westmark Realty Partners.
LENEXA, KAN. — Block Real Estate Services (BRES) has broken ground on Lenexa Logistics Centre, a 1.6 million-square-foot, Class A industrial park in Lenexa, located about 15 miles south of Kansas City. Situated on 117.5 acres, the master-planned industrial complex will include 10 buildings. The first building to be constructed, Building 4, will be a 260,000-square-foot speculative property and include 32-foot clear ceiling heights and cross-dock loading. Building 4 is slated for completion by June 2014.
ADDISON, TEXAS — Retail Realty has brokered the sale of a 30,660-square-foot multi-tenant flex building in Addison, approximately 14 miles north of Dallas. The property, located at 4500 Ratliff Lane, features two drive-in, grade-level doors and clear height ceilings of 14 feet. Dan Avnery of Retail Realty represented the seller, Indus Partners Ltd. Robert Powell with Powell Realty Advisors represented the buyer, GBN Inc.
TEMPE, ARIZ. – A 60,458-square-foot, mixed-use property in Tempe has sold to Enright Roosevelt Tech, LP for $5 million. The flex/manufacturing property is located at 528 West 21st Street. Enright plans to hold the fully occupied building as an investment property. The company was represented by Paul Boyle and Rick Danis of Cassidy Turley’s Industrial Group. The seller, RBI Industrial Properties I, LLC, was represented by Tim Benson of Westmark Realty Partners.
LAKE ZURICH, ILL. — ScrubAir Systems Inc. has purchased a 25,000-square-foot industrial building in Lake Zurich, located about 38 miles northwest of Chicago, for $1.9 million. The property, located at 1200 Ensell Road, includes three exterior docks, two drive-in doors and 22-foot clear ceiling heights on 1.8 acres. ScrubAir Systems is moving from a smaller space at a business park in Lake Zurich. The ventilation and air pollution control equipment company custom designs and installs systems for large firms and corporations throughout the world. Paul Cawthon and Angelo Labriola, senior advisors at Sperry Van Ness LLC, represented ScrubAir Systems in the transaction.
CARTERET, N.J. — The Hampshire Co. has purchased 700 Blair Road, a 234,325-square-foot, single-tenant industrial building in Carteret, located about 15 miles south of Newark, for more than $10 million. Berjé Inc., a global distributor of essential oils and aromatic chemicals, fully occupies the property, which serves as its corporate headquarters. Michael Nachamkin, Jose Cruz, Kevin O’Hearn and Marc Duval led the HFF team representing the seller, GP 700 Blair Road LLC, and the buyer.
FREEPORT, TEXAS — Brennan Investment Group LLC, a private real estate investment firm, has acquired the 46,401-square-foot industrial property at 6711 Freeway 332 in Freeport. Dow Chemical occupies the building. Tom Lynch and Paul Segreto of CBRE represented the seller in the transaction. Brennan is actively pursuing similar industrial assets in Los Angeles, Florida, Washington, D.C., New Jersey, Atlanta and the Midwest in addition to Texas.
HOUSTON — Holt Lunsford Commercial has arranged a lease renewal for the 369,772-square-foot Houston home of United DC Inc. The industrial facility, located at 8921-8933 and 8937-8947 Market St., is in close proximity to the interchange of Interstate 10 and Interstate 610, approximately 7 miles east of downtown. Jason Dillee and John Kruse of Holt Lunsford represented the landlord, The Realty Associates Fund IX LP, in the negotiations. United DC is the warehousing arm of packaging business United Companies.
DALLAS — Cushman & Wakefield has arranged the renewal of FMI Recycling’s lease of 68,000 square feet at 2929 Glenfield Ave., approximately eight miles southwest of the heart of downtown Dallas. FMI, which specializes in metals and electronics recycling, has occupied space in the multi-tenant industrial property for five years. Mark Collins, Dean Collins and Kirk Collins of Cushman & Wakefield represented the tenant in the negotiations. Matt Elliot of NAI Robert Lynn represented the landlord, Glenfield LLC.
ATLANTA — Cushman & Wakefield's capital markets team in Atlanta has arranged the sale of a nine-building, 2.4 million-square-foot industrial portfolio in Atlanta. The properties are located in Atlanta's two strongest industrial submarkets — I-20 West and Airport/South Atlanta. The portfolio is fully leased to tenants such as Electrolux, Iron Mountain, Aaron's and TOTO Americas. Stewart Calhoun, David Meline, Samir Idris and Casey Masters of Cushman & Wakefield represented the seller, Clarion Partners, in the transaction. The buyer was Exeter Property Group, a private real estate investment firm based in Plymouth Meeting, Pa.