DALLAS — Billingsley Co. has begun construction of the new 300,000-square-foot Bush Beltline Distribution Center, located at the intersection of Belt Line Road and George Bush Turnpike 190 in Dallas. The distribution center will include 32-foot clear heights, cross docks and 135-foot truck courts. The building was 86 percent leased before the ground breaking. Mattress Firm has secured a lease for 153,000 square feet in the center. The landlord, Billingsley Co., was self-represented by Marijke Lantz and Carter Crow. Damian Rivera and Graham Horton of Stream Realty Partners represented Mattress Firm. The property is slated for a July 2013 completion.
GARLAND, TEXAS — Westmount Realty Capital has purchased a 341,840-square-foot manufacturing distribution facility in Garland. The distribution facility is fully leased to Apex Tool Group, which recently signed a new 20-year net lease. Apex Tool Group builds hand, power and electric tools, most notably the Sears Craftman brand. Other brands include Crescent, Armstrong, Allen and Kobalt. Apex is owned by a joint venture between Danaher Corp. and Cooper Industries. Westmount will invest approximately $1.5 million in interior and exterior building improvements, including new finishes throughout. Lee and Associates represented the seller in the transaction. Additionally, NorthMarq Capital arranged acquisition financing.
GROVE CITY, OHIO — Team Gemini has selected Colliers International to market Gemini Synergy Center Industrial Park in Grove City. The $250 million project will be constructed on 343 acres, just north of State Route 665. The industrial and research park will serve as a sustainable business cluster powered by a waste stream within a Community Reinvestment Area. Bill Baumgardner of Colliers will market the property to tenants. Team Gemini plans to become the main anchor at the park, and will build process facilities for recycled products.
NEW YORK CITY — TA Associates Realty has acquired the JFK Cargo portfolio, which includes 12 buildings adjacent to JFK International Airport's runway system in Queens, for $57.2 million. In addition to the 12 properties totaling 481,000 square feet, the deal includes eight land parcels. The buildings are 93 percent occupied, primarily by freight forwarders such as Aramex International, Gourmet Boutique and Aaron Rents Inc. The eight parcels are currently used as parking lots, but could provide additional on-site expansion. Andrew Merin, David Bernhaut, Gary Gabriel and Kyle Schmidt of Cushman & Wakefield represented the seller, Prologis Inc., in the transaction. They also procured the buyer.
DULUTH, GA. — ViaSat Inc., which produces satellite and other digital communication products for the government and commercial customers, has begun construction on a 60,000-square-foot expansion at the firm's facility in Duluth. The company will invest $10.5 million in the build-to-suit project located at 1725 Breckinridge Plaza. The company's Duluth campus is ViaSat's second largest location in the nation, following behind its headquarters in Carlsbad, Calif. The Duluth warehouse focuses on antenna systems and commercial networks. Lindsay Martin, project manager with the Georgia Department of Economic Development, along with the Gwinnett Chamber Economic Development, assisted with the project.
SAUK VILLAGE, ILL. — Principle Construction Corp. has completed a new 267,000-square-foot, build-to-suit manufacturing facility for Winpak Portion Packaging in Sauk Village, located about 30 miles south of Chicago. Demody Properties is the building owner. The facility includes a warehouse, production area, offices, maintenance area, chemical storage room and printing area. Winpak manufactures and distributes packaging materials and related packaging machines. Harris Architects provided architectural services and Jacob & Hefner Associates provided civil engineering service. George Cibula of Darwin Realty represented Dermody in the transaction. Justin Fierz of Lee & Associates represented the tenant.
ITASCA, ILL. — Priority Wire, a wire and cable distributor, has renewed its lease for 113,785 square feet of industrial space at 1311 Meacham Road in Itasca. The landlord, CenterPoint Properties, plans to upgrade the facility by adding a drive-in door, new lighting and other improvements. Joe Bronson of NAI Hiffman represented the tenant in the transaction.
MANSFIELD, MASS. — The Lacerta Group, a custom thermoformed packaging maker, has acquired a 75,000-square-foot industrial building at 240 Forbes Blvd. in Mansfield for $4.3 million. The building is located in the Cabot Business Park and is situated on six acres. Catherine Minnerly and Ovar Osvold of NAI Hunneman represented the seller, Yale Appliances, in the transaction. They also procured the buyer.
HOUSTON — Liberty Property Trust has commenced the development of Central Green 11, a 181,000-square-foot industrial property, located at 16200 Central Green Blvd. in the Central Green Business Park in the north Houston submarket. The build-to-suit project is leased to GAC Energy & Marine Services LLC. The development team for the project includes Ken Chang of Liberty Trust; Seeberger Architect; Getz & Associates; and Cadence McShane. The development team is designing the facility to achieve LEED certification. Bob Bandos, CEO of GAC Energy & Marine Services, along with Derrick Jones, represented the buyer in the transaction.
MIAMI — The 203,567-square-foot Aventura Business Park has sold for $17.3 million. Douglas Mandel of Marcus & Millichap’s Fort Lauderdale, Fla., office represented both the unlisted seller and the buyer, Bristol Group Inc. The three-building property was completed in 1989 and is located off Interstate 95 and Ives Dairy Road.