ALLENTOWN, PA. — Marcus & Millichap has arranged the $5.3 million sale of the Pepsi Distribution Center, a 71,500-square-foot net-leased property in Allentown. Glen Kunofsky, Preet Sabharwal, Judson Kauffman and Zachary Weiss of Marcus & Millichap represented the seller, a private investor. Kunofsky secured the buyer.
KATY — EastGroup Properties is going to begin the first phase of Ten West Crossing, a 40-acre business park located on Merchants Way near Interstate 10 and Mason Road in Katy. The first stage of development will include a 45,000-square-foot flex facility and a 67,000-square-foot light industrial property. On full build-out, Ten West Crossing will span 552,000 square feet. EastGroup and its leasing partner InSite Realty worked closely with the Katy Area EDC on the development.
FLORENCE, KY. — L’Orè<
WIXOM, MICH. — R2 Energy Inc. has signed a lease for 21,500 square feet of industrial space at 30110 Wixom Road in Wixom. R2 Energy specializes in alternative energy solutions, such as wind, solar and waste conversion. Jim Montgomery and David Giltner of Signature Associates represented the landlord, International Wixom, in the transaction.
BIRMINGHAM, ALA. — Isuzu Manufacturing has sold a vacant 293,000-square-foot industrial facility at 1573 Sterilite Dr. in Birmingham to Kamtek, a division of automotive supplier Magna International. Isuzu purchased the property from Del Monte in 2006 with plans to assemble a light-duty work truck product line. However, the product line was not developed due to economic conditions. The industrial facility is situated on 36 acres near Birmingham’s Valley East Industrial Park. Sonny Culp of Graham & Co. represented Isuzu and Jack Brown of Graham & Co. represented Kamtek.
GARNER, N.C. — First American Exchange Co. has sold a 180,000-square-foot distribution center at 1001 Pergo Parkway in Garner to Exeter Property Group. The industrial property, which offers 175,230 square feet of warehouse space and 4,770 square feet of office space on 10.7 acres, is leased to Pergo, a laminate flooring manufacturer. J.D. Miller and Ann Stewart Patterson of CBRE/Raleigh represented First American Exchange Co. in the transaction.
LAPORTE — Overland Distribution has extended and expanded its lease for a total of 206,368 square feet of industrial space at Port Crossing Commerce Center, located at 1701 S. 16th St. in LaPorte. The property features 30-foot ceiling heights, 60 exterior docks, trailer storage and access to a rail transloading yard. Greg Egan of Leasesquarefeet.com represented the tenant in the lease transaction. Gary Mabray and Mike Taetz of Colliers International represented the landlord, a joint venture between National Property Holdings and ML Realty Partners.
IRVINE, CALIF. – A 59,213-square-foot R&D facility in Irvine has sold to an unnamed buyer for $6.5 million. The corporate headquarters facility is located at 1 Morgan in the Irvine Spectrum. The buyer was represented by Max Wang and John Griffin of Voit Commercial. The seller, One Morgan LLC, was represented by Charlie Winn and Craig Sullivan of DAUM’s Orange County office.
ASHAWAY, R.I. — Chase Hill Rd Properties has acquired a single-story, 170,000-square-foot manufacturing building at 50 Chase Hill Road in Ashaway. The building features concrete floors, 26-foot clear ceiling heights and 10,000 square feet of office space. The new owner plans to upgrade the property. Tim O' Callaghan of Binswanger represented the seller, Shamrock Associates, in the transaction.
LANCASTER — Prologis has signed a build-to-suit agreement for more than 1.2 million square feet of industrial space for a food and beverage company, located at Prologis Park 20/35 in Lancaster. At full build-out, Prologis Park 20/35 will include more than 3.1 million square feet. Construction of the facility is slated to begin in January 2013.
