CHICAGO — Two logistics companies have leased a total of 456,719 square feet in industrial leases along the I-55 corridor. APL Logistics, a third-party logistics services provider, signed a new lease for 126,450 square feet in Crossroads 1, while existing tenant Exel Inc., a supply chain and logistics company, renewed its 241,110-square-foot lease and expanded by 89,159 square feet in Park 55 Building 1. Duke Realty owns both buildings. Larry Johnson with CBRE represented APL Logistics in its new lease, while Mark Moran and Steve Connolly with NAI Hiffman and Susan Bergdoll of Duke Realty represented the landlord. Jeanne Rogers with Arthur J. Rogers & Co. represented Exel Inc. in its renewal and expansion, while Trevor Ragsdale, Kelly Gray and Michael Connor with Jones Lang LaSalle and Bergdoll represented Duke Realty. Crossroads 1 is a 289,920-square-foot bulk distribution facility and one of seven Duke Realty industrial buildings in Crossroads Business Park at I-55 and Route 53 in Bolingbrook. Park 55 Building 1 is a 529,000-square-foot bulk distribution facility located a few miles southwest of Crossroads along I-55.
KANSAS CITY, MO. — Demdaco, a Leawood-based importer of household gift and decorative items, is moving its distribution to Logistics Park Kansas City. Logistics Park KC master developer NorthPoint Development and NAI Capital Realty announced that Demdaco had executed a long-term lease for a 326,650-square-foot distribution center. The center will be custom built for Demdaco, which has distributed its products from North Kansas City for the last 12 years. Demdaco will bring the total square footage under development to more than 850,000 square feet at the industrial park.
SAUKVILLE, WIS. — Mr. Mover Inc., a moving and storage company, has purchased an 8,800-square-foot industrial building in Saukville, about 25 miles north of Milwaukee. General Chemical sold the property, which is located at 500 N. Progress Drive. The purchase price was undisclosed. General Chemical acquired the facility in 2006. Mr. Mover will relocate from its current building at 336 S. Spring St. in Port Washington. James Young of Cassidy Turley Barry represented General Chemical in the transaction. Jeff Hoffman of Judson & Associates represented Mr. Mover.
GRAND RAPIDS, MICH. AND SOUTH BEND, IND.— CrossLake Partners has acquired a seven-building, 1.5 million-square-foot industrial portfolio located in the Grand Rapids, Mich., and South Bend, Ind., markets for $29.2 million. CenterPoint Properties was the seller. CrossLake Partners is a joint venture between principals within Colliers International’s Chicago offices and a Chicago-based real estate investment firm. KeyBank provided the acquisition and lease-up financing in this transaction. The properties, which are 75 percent leased, have 23 tenants including Wacker Neuson (150,000 square feet), Tubelight (123,000 square feet) and PIPP Mobile Storage (116,000 square feet). Michigan buildings in the portfolio include: 3056 Walker Ridge Drive (335,125 square feet), 2966 Wilson Drive (200,188 square feet) and 3111 Wilson Drive (107,000 square feet) in Walker; 1269 E. Mt. Garfield Road (275,000 square feet) in North Shores; and 1100 Hynes Ave. (215,050 square feet) and 900 Hynes Ave. (190,429 square feet) in Grand Rapids. The South Bend industrial property is located at 1827 Bendix Drive and spans 199,730 square feet.
CARTERET, N.J. — The Hampshire Cos., based in Morristown, N.J., has acquired 200 Middlesex Ave. in Carteret, a 400,000-square-foot industrial property that was built in 1992. The purchase price was not disclosed. Located within Carteret’s industrial market, the building offers easy access to the New Jersey Turnpike and is nearby major ports. “We anticipate increased activity in the port area over the next few years, and the building’s accessibility and close proximity to the ports made this an attractive investment opportunity,” says Michael Harrington, an investment manager for The Hampshire Cos.
CARROLLTON, TEXAS — Lee & Associates has arranged a 44,900-square-foot industrial lease at 1135 Trinity Mills Road in Carrollton. Nathan Denton and Adam Graham of Lee & Associates represented the landlord, Cobalt Capital Partners. Bill de la Chapel of Transwestern Commercial Services represented the tenant, Armstrong Relocation.
SAN ANTONIO — Stream Realty Partners has brokered the extension and expansion of a 32,400-square-foot industrial lease at Lanark Distribution Center, located at 610 Lanark Drive in San Antonio. Jason Schnittger of Stream Realty Partners represented the landlord, Mayfield Properties, in a direct deal with tenant Ram Tool & Supply.
MORENO VALLEY, CALIF. – DDI Distributions Inc. has leased the 225,450-square-foot March Inland Port, a distribution facility in Moreno Valley. The Class A distribution facility is located at 16875 Heacock Street. It is attached to the March Air Reserve Base runway. DDI has agreed to lease the facility for more than five years. The agreement is valued at $3.7 million. DDI was represented by Kent Stalwick of CBRE’s Ontario office. The landlord, CT Realty Investors, was represented by Milo Lipson, Kyle Kehner, Tim Pimentel and Ryan Velasquez of Cushman & Wakefield’s Ontario office.
NEW YORK CITY — Gramercy Property Trust Inc. has closed on the acquisition of two cross-dock truck terminals in the Long Island and Baltimore areas for $9.8 million. Cross-docking is a practice in logistics of unloading materials from an incoming semi-trailer truck or railroad car and loading the materials directly into outbound trucks, trailers or rail cars. The Long Island Terminal includes 54 dock doors, located on five acres in Deer Park, a community in Long Island. This terminal is leased through December 2019 to a national carrier. The second terminal includes 61 dock doors and is located on 10.5 acres in Elkridge, a southwest suburb of Boston. The Elkridge Terminal is leased to a northeast carrier. The terminals were purchased separately in all-cash transactions.
MORENO VALLEY, CALIF. – DDI Distributions Inc. has leased the 225,450-square-foot March Inland Port, a distribution facility in Moreno Valley. The Class A distribution facility is located at 16875 Heacock Street. It is attached to the March Air Reserve Base runway. DDI has agreed to lease the facility for more than five years. The agreement is valued at $3.7 million. DDI was represented by Kent Stalwick of CBRE’s Ontario office. The landlord, CT Realty Investors, was represented by Milo Lipson, Kyle Kehner, Tim Pimentel and Ryan Velasquez of Cushman & Wakefield’s Ontario office.