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.
ACWORTH, GA. — Inalfa Roof Systems, a global supplier of vehicle roofing systems, will open a manufacturing plant in Acworth, investing $17.1 million in the facility and creating 300 jobs. The facility will be located at Cherokee 75 Corporate Park in Cherokee County. The plant is expected to initially open in January 2014 and become fully operational during the second quarter of 2015. The plant will be the fourth in the United States and the first in the Southeast for Inalfa, which is based in Veray, The Netherlands. Wylly Harrison is the project manager for the Georgia Department of Economic Development, which partnered with the Cherokee Office of Economic Development in the project location.
MEBANE, N.C. — Exeter Property Group has acquired the Ford Motor Co. High-Velocity Center (HVC), a Class A distribution facility located at 1099 Corporate Park Drive in Mebane, for approximately $10.3 million. The purchase price for the 252,000-square-foot distribution center equates to $40.83 per square foot. The property is 100 percent leased to Ford Motor Co., which extended its lease in June for another five years. Built for Ford in 2003, the Ford HVC is part of the North Carolina Industrial Center, a 600-acre mixed-use development that includes office, manufacturing and distribution space. Kevin Markwordt, Julian Brown and Walter Byrd of Transwestern’s Southeast investment services group represented the seller, LNR, in the transaction.
COLUMBUS, OHIO — Privately held real estate investment firm Hackman Capital Partners LLC has completed the acquisition of a 28-building industrial real estate portfolio totaling 2.5 million square feet. The purchase price was undisclosed. Five of the properties, totaling 611,578 square feet, are located in Columbus and 16 properties, totaling 1.5 million square feet, are located in Cleveland. The remaining seven properties, totaling 395,072 square feet, are located in Cincinnati. Two land parcels in Columbus, totaling 23.4 acres, also are included in the portfolio. The multi-tenant buildings include 108 tenant spaces ranging from 2,400 to 219,600 square feet. The portfolio was 73 percent occupied at the time of closing. Deutsche Bank provided first mortgage financing to Los Angeles-based Hackman Capital for the portfolio, and affiliates of New York-based Square Mile Capital Management LLC supplied an additional $25 million of capital.
SCHAUMBURG, ILL. — GN Otometrics has signed a 8,857-square-foot, long-term lease at 50 E. Commerce Drive in Schaumburg, located about 30 miles northwest of Chicago. GN Otometrics, a manufacturer of hearing and balance instrumentation and software, uses the facility as its North American headquarters. Dan O’Neill and Jim Adler, both executive vice presidents with NAI Hiffman’s office services group, represented GN Otometrics in the transaction. Peter Kelly of Lincoln Property Co. represented the landlord, First American Properties.
CLARK, N.J. — The Feil Organization has hired Atlantic Real Estate Services to market the 235,714-square-foot former L’Oréal manufacturing facility in Clark, a southern suburb of Newark. The flex property, which is located at 200-222 Terminal Ave., features approximately 17,587 square feet of air-conditioned office space with private offices, a boardroom and cafeteria. An estimated 166,591 square feet is air-conditioned manufacturing space, which was previously used by L’Oréal in the production of liquid and cream hair dyes and conditioners. The 51,536-square-foot warehouse has a 20-foot clear ceiling height with 15 loading docks and one drive-in door. The property is priced at $13.5 million for sale or $5.75 per square foot for a triple-net lease.
ROBINSON, TEXAS — The Waco Industrial Foundation (WIF) has purchased approximately 634 acres of land in Robinson from Dove Hill Partners LP. The tract is located at the southeastern corner of Interstate 35 and South Loop 340/State Highway 6. The land has 2,300 feet of footage along the interstate. H. Bland Cromwell of Coldwell Banker Commercial | Jim Stewart, Realtors. Jason Cooper of Dallas-based Cooper Real Estate Advisors LLC assisted in the transaction. WIF manages a $37.5 million real estate portfolio of industrial facilities. WIF will use the new land to provide industrial sites for prospective clients.
ELLISVILLE, MISS. — Pure Development has completed construction for a $56 million manufacturing plant for GE Aviation in Ellisville. The 340,000-square-foot facility manufactures advanced composite components for aircraft engines and systems. GE Aviation will employ 250 people at the plant by 2017. It marks the second project Pure Development has completed for GE Aviation in Mississippi. Pure developed another facility in Batesville that opened in 2008.