MIAMI — Terreno Realty Corp. has acquired two industrial buildings totaling 138,000 square feet, located at 7500-7600 NW 26th St. in Miami, for $12.1 million. The properties are fully leased to one tenant. As part of the transaction, the company assumed a mortgage loan with a total principal amount of approximately $6.2 million.
MONROE, OHIO — IDI, an Atlanta-based developer, has acquired the Corridor 75 Premier Logistics Park in Monroe during a sheriff's sale, for a reported $13.3 million. The property includes 300 acres of land and a vacant 651,592-square-foot industrial building. IDI plans to rename the property Park North at Monroe and develop an additional 4.1 million square feet of logistics buildings on the property. The buildings will range from 150,000 square feet to more than 1.2 million square feet. The business park is located near the intersection of State Route 63 and I-75.
BEDFORD, MASS. — Jones Lang LaSalle Construction has been awarded the contract to provide construction management and general contracting for Enegris Corp.'s i2M Center for Advanced Materials Science at 9 Crosby Drive in Bedford. Entegris, which makes products for the semiconductor and microelectronics industries, announced in April that it planned to customize the existing, 80,000-square-foot building at 9 Crosby Drive to include clean rooms, large manufacturing areas and waste-treatment systems. The company said the renovation would require a $50 million investment.
HOUSTON — A joint venture between Hines and Pinto Realty Partners has hired Studley's Houston office for tenant representation of Pinto Business Park, a 971-acre master-planned business park located at the southwest corner of Beltway 8 and Interstate 45 in Houston. Additionally, an affiliate of Kohlberg Kravis Roberts will invest in the development of the business park. When fully built out, the park could span 9 million square feet and represent approximately $900 million in investments.
NEWARK, CALIF. — American Realty Advisors (ARA) and McShane Development Company have formed a joint venture to redevelop the 29-acre Cherry Logistics Center into a 575,000-square-foot distribution facility. The property is located at 38811 Cherry Street in Newark, a submarket of San Francisco’s East Bay. The eco-friendly facility will be built by McShane Construction Company in conjunction with HPA. It is scheduled to open in the fourth quarter of 2013.
NEWARK, CALIF. — American Realty Advisors (ARA) and McShane Development Company have formed a joint venture to redevelop the 29-acre Cherry Logistics Center into a 575,000-square-foot distribution facility. The property is located at 38811 Cherry Street in Newark, a submarket of San Francisco’s East Bay. The eco-friendly facility will be built by McShane Construction Company in conjunction with HPA. It is scheduled to open in the fourth quarter of 2013.
ROSEVILLE, CALIF. – Roseville Storage Center, a 574-unit, 78,648-square-foot storage facility in Roseville, has sold to Trojan Self Storage for $4.3 million. The property was listed by Paul D. Frank of PDF Commercial. The seller, Wells Fargo Bank, was represented by Brett Henry of Andasol Brokerage.
HANOVER TOWNSHIP, PA. — Griffin Land has agreed to acquire 49 acres of undeveloped land in Hanover Township for $7.2 million. The land is expected to support the development of two industrial buildings, totaling at least 500,000 square feet, though no approvals are currently in place. The transaction is expected to close later this year.
ROSEVILLE, CALIF. – Roseville Storage Center, a 574-unit, 78,648-square-foot storage facility in Roseville, has sold to Trojan Self Storage for $4.3 million. The property was listed by Paul D. Frank of PDF Commercial. The seller, Wells Fargo Bank, was represented by Brett Henry of Andasol Brokerage.
GREENVILLE, S.C. — STAG Industrial has purchased two warehouse and distribution facilities, located near Greenville, for $26 million. The properties total 787,380 square feet and are fully leased with an average lease term of 4.5 years. The buildings include a 474,000-square-foot building, which is primarily leased to L. Perrigo Co., and a 313,380-square-foot building, which is leased to Arvato Digital Services.