HAVERHILL, MASS. — Parsons Commercial Group Inc. has arranged the sale of 25 Avco Road, in Haverhill for $950,000. The 12,375-square-foot industrial building was built in 2008 and is located in the Ward Hill Industrial Park. Alex Berger, an associate at Parsons Commercial Group, procured the buyer and represented the seller, Avco Realty Trust.
ROCHESTER HILLS, MICH. — IA Engineering has signed a lease for 9,903 square feet of high-tech space at 2709 Bond St. in Rochester Hills. Kris Pawlowski, Clint Confer and Gary Stephens of Signature Associates represented the landlord, Wall Street Industrial Center LLC. This is the third suite in this complex that Signature has negotiated. Kris Pawlowski also represented the tenant, IA Engineering of North America Inc. IA Engineering provides solutions for manufacturing and suppliers in automotive, aerospace, defense, alternative energy and other industries across North America.
SAVANNAH, GA. — Choate Construction Co. has started work on a science and technology expansion for Arizona Chemical's Savannah campus. The single-story building, with an elevated mechanical penthouse area, will total 23,269 square feet. Unlike conventional laboratories, the space will bring the outdoors inside with panoramic windows and nature-hued finishes. Adjacent to the research laboratory space will be a lab support area that will include an oven room, freezer room, humidity room and storage. The Savannah Science & Technology Center currently employs 51 chemists. Jones Lang LaSalle is the project manager and Perkins + Will is designing the project, which is slated for completion in December.
GREENVILLE, S.C. — The Crown Group, a company that provides automotive coating and non-automotive services, has signed an industrial lease for 98,200 square feet at 101 Milledge Road in Greenville. Michael Greer and John Baldwin of NAI Earle Furman represented the landlord in the transaction.
POMPANO BEACH, FLA. — EMC Aerospace has acquired a 40,000-square-foot manufacturing building at 1711 Bount Road in Pompano Beach. The property is located off Coconut Creek Parkway and the Florida Turnpike, and includes 20-foot clear ceiling heights, heavy power and 88 parking spaces. Tony Hoover and Allen Lindow of CBRE represented the seller, CJJ Properties, in the transaction. They also represented the buyer.
MIAMI — Terreno Realty Corp. (NYSE: TRNO), a publicly traded REIT, has acquired a 50,000-square-foot industrial warehouse at 12600 NW 107th Ave. in Miami-Dade's Medley submarket for $5.1 million. CaribTrans Inc., a Caribbean shipping company offering air and ocean freight services, occupies the property. Steven Medwin and Nick Wigoda of Jones Lang LaSalle (JLL) represented the seller, LMS Realty, in the transaction. According to JLL, Miami’s position as the gateway to and from Latin America and the Caribbean, coupled with increasing trade activity with Europe and Asia, has led institutional-grade owners to make significant long-term investments in the area. Miami broke into the top 10 customs districts in the U.S. in 2012, with a record $124.7 billion in trade volume being routed through the area. The stock price of San Francisco-based Terreno Realty closed at $17.68 per share on Thursday, March 14, up from $13.59 per share one year ago.
LINCOLNSHIRE, ILL. — Meridian Design Build has completed a 100,280-square-foot building expansion to Kubota Engine America’s headquarters in Lincolnshire. The expansion includes 81,880 square feet of additional plant/warehouse space and 18,400 square feet of space designed to serve as future offices. Site improvements were also completed to create more employee parking to accommodate Kubota’s future growth. Kubota is a manufacturer of compact diesel and gasoline engines. Timothy Morgan Associates provided architectural services for the project, and Manhard Consulting completed the civil engineering work.
CLIFTON, N.J. — NAI James E. Hanson has been named sales and leasing agent for a 245,951-square-foot industrial property at 1 Lisbon St. in Clifton, located about 17 miles west of New York City. Kenneth Lundberg, Barry Cohorsky and Scott K. Perkins of NAI Hanson are handling the assignment on behalf of the owner, 1513 Realty LLC and Hoist Realty Corp. The property includes a 118,343-square-foot high-bay warehouse with 26-foot ceilings, 116,471 square feet of manufacturing space with 16-foot ceilings and office space totaling 11,137 square feet. The site is listed at $12.3 million.
HOUSTON — Exel, part of the supply chain division of Deutsche Post DHL, renewed leases at 8607, 8609, 8711 and 8833 City Park Loop in the City Park East Business Park in Houston. The lease renewals total 767,632 square feet of rail-served industrial space. Sam Brown with Sam H. Brown Interests represented the tenant in the lease transaction. John Kruse and Jason Dillee of Holt Lunsford Commercial represented the landlord, The Realty Associates Fund VIII L.P.
DALLAS — CBRE has arranged the 178,200-square-foot lease of industrial space at 4445 Rock Quarry in Dallas. Travis Sapaugh, Seth Kelly, Ryan Keiser and Nathan Lawrence of CBRE Dallas, along with Mark Collins and Kathy Rinna of CBRE Detroit, represented the tenant, Cequent Performance Products Inc., in the lease transaction. John Leinbaugh of IDI Dallas represented the landlord, Teachers Insurance and Annuity Association of America. The lease transaction is a relocation and expansion for Cequent's existing distribution operation.
