FOSTORIA, OHIO — Marcus & Millichap has arranged the sale of a 488,379-square-foot Arm & Hammer distribution center for $9 million. The net-lease property is fully leased to Church & Dwight Co. and located at 110 E. Jones Road in Fostoria, about 40 miles south of Toledo. Jason John, John Abuja and Paul Tesdal of Marcus & Millichap represented the seller, a limited liability company and the buyer, a partnership.
DENVER — JCR Capital and CapRock Partners have formed a $35-million equity joint venture to acquire industrial REO and distressed loans that are secured by industrial properties in California. The venture’s first acquisition was a 90,000-square-foot industrial property in Melrose Park Industrial Park in Placentia. The property will be financed through the JCR Commercial Real Estate Finance Fund II, L.P. and Soundview Real Estate Partners. This is the third joint venture facility between Denver-based JCR Capital and Irvine, Calif.-based CapRock Partners.
NORTON, MASS. — Paradigm Industrial Partners 1 has purchased a 209,000-square-foot warehouse located at 176 S. Washington St. for $12.4 million. Paradigm purchased the property from APCA Property Fund I, which acquired the property in 2007. Paradigm purchased the warehouse for its client, Bodek & Rhodes, which will lease the building. The industrial property is located in Norton, about 25 miles north of Providence, R.I.
NEW HAVEN, CONN. — LILEEE Association LLC has sold an 18,500-square-foot industrial facility for $575,000 to locally based Olde Ways LLC. The property, which is located at 1050 Sherman Ave. in New Haven, features 5,000 square feet of office space and 14-foot ceilings. Hamden, Conn.-based Press/Cuozzo Realtors arranged the sale.
ERLANGER, KY. — Newly Wed Foods plans to develop a regional food production facility in Northern Kentucky, with plans to create 115 jobs and invest $57 million in Boone County. Newly Wed Foods, an international manufacturer and distributor of food ingredients, purchased an existing 326,000-square-foot facility at 4455 Olympic Blvd. in the Circleport Business Park in Erlanger. The park is also home to Toyota Motor Engineering and Manufacturing North America. The Kentucky Economic Development Finance Authority preliminarily approved the company for tax incentives up to $6 million through the Kentucky Business Investment program.
DORAL, FLA. — SMT Duty Free Inc., a duty-free retailer, has signed a lease for 50,000 square feet at 8935 NW 27th St. in Doral. The company is doubling its square footage from 25,000 square feet and relocating from Beacon Centre. Steven Medwin and Nick Wigoda of Jones Lang LaSalle represented the landlord, IndCor Properties, in the transaction. Scott Hardie of Miami Industrial Real Estate represented the tenant.
SUWANEE, GA. — Anixter, a Chicago-based provider of communication products, has signed a 205,700-square-foot lease renewal at 250 Horizon Drive, a 267,600-square-foot distribution building in Horizon Business Center in Suwanee. The company has occupied the building since it opened in May 1998. Best Buy occupies the remaining 61,600 square feet in the property. The owner, Duke Realty, was self-represented by Brian Sutton in the transaction. Nathan Anderson and Darren Butler of NAI Global represented the tenant.
PASADENA, TEXAS — The Carson Cos. has begun the development of Carson Commerce Center, a three-building Class A industrial development located at the southwest corner of Beltway 8 and Highway 225 in Pasadena. The multi-tenant industrial property will total 365,462 square feet and be 20-ton crane ready. Cadence McShane is the general contractor and Powers Brown Architecture is designing the project, which is slated for a third quarter 2013 completion.
RENO, NEV. – The Lear Industrial Center in Reno has reached full capacity. The Burrows Corporation and Bizchair were two of the last tenants to nab space at this 390,000-square-foot facility. Lear Industrial is owned by Panattoni. Miller Industrial Properties serves as the property’s leasing agent.
DORAL, FLA. — Yusen Logistics Americas, a freight forwarding and supply chain services company, has renewed its lease for 178,000 square feet of industrial space at 10200 NW 21st St. and 10000 NW 17th St. in Doral. Steven Medwin and Nick Wigoda of Jones Lang LaSalle represented the landlord, IndCor Properties, in the transaction. Stephen DiGiacomo of DiGiacomo Group represented the tenant.
