LOS ANGELES — DCT Industrial Trust has agreed to purchase a four-property portfolio totaling 563,000 square feet for an undisclosed sum. The portfolio contains three properties within the Los Angeles International Airport submarket and one property within the Chicago O’Hare International Airport submarket. The Class A air freight buildings boast a 99.6 percent total occupancy rate. They are leased to eight tenants. The off-market transaction is anticipated to close in the fourth quarter of 2012.
MEBANE, N.C. AND DALLAS, GA. — STAG Industrial has purchased three industrial buildings totaling 518,383 square feet, for $19.8 million. Two of the buildings are located in Mebane and one is located in Dallas. The properties include two warehouse and distribution facilities and one light manufacturing facility, which are fully leased to Armacell, with an average remaining lease term of 12 years.
CHICAGO — DCT Industrial Trust has agreed to purchase four industrial assets totaling 563,000 square feet, including one facility in the Chicago O'Hare International Airport submarket. The Class A air freight buildings are situated in prime distribution locations. The additional three facilities are in the Los Angeles International Airport submarket. The portfolio is 99.6 percent occupied by eight tenants. The off-market transaction is expected to close in the fourth quarter of this year.
ASHLAND, VA. — CapLease has entered into a build-to-suit agreement to construct a $20 million, 311,730-square-foot distribution warehouse, located in Ashland, on behalf of Vitamin Shoppe Industries. The company has entered into a 15-year net lease that will commence upon completion of construction, which is slated for the second quarter of 2013.
SHOALS, ALA. — Firestone Building Products plans to add 150,000 square feet to its manufacturing plant, located at 393 Denton Circle in Shoals. The facility manufactures thermoplastic polyolefin (TPO) single-ply roofing membranes. Groundbreaking is scheduled for the second week in September, with completion slated for the second quarter of 2013. The investment will create approximately 40 permanent jobs once the plant is fully functional in July 2015.
COLUMBUS, IND. — Browning plans to construct a 468,000-square-foot manufacturing and assembly facility for The Phoenix Group in the Woodside Northwest Park in Columbus. The Phoenix Group is a supply chain management company with a client base that includes NTN Driveshaft and Alpine Electronics of America. The $15 million will be located on International Drive with direct access to I-65. The project is expected to break ground in October with completion scheduled for August 2013.
SOUTH BRUNSWICK, EDISON, ELIZABETH AND BAYONNE, N.J. — An affiliate of Cohen Asset Management has purchased a nine-building industrial portfolio totaling 2.6 million square feet in northern New Jersey. The portfolio is primarily composed of warehouse and office space in port-centric locations in South Brunswick, Edison, Elizabeth and Bayonne. The buildings are 98 percent leased to a diverse base of tenants. Michael Nachamkin led the HFF team that represented the seller, Avidan Management LLC, in the transaction.
JOLIET, ILL. — Acer America Corp. has renewed its lease for 275,860 square feet of industrial space at Laraway Crossings Business Park in Joliet. The space is part of a 374,460-square-foot facility, located at 251 Laraway Road. The building includes 4,900 square feet of office space, 40 exterior docks and 30-foot clear ceiling heights. Steve Connolly and Eric Tresslar of NAI Hiffman represented the landlord, Ryan Cos., in the transaction. Jim Hebst of Interstate Tenant represented Acer.
BETHEL, PA. — Dollar General Corp. and PetSmart will build their first Pennsylvania distribution centers at Berks Park 78 in Bethel. Dollar General acquired 109 acres from Berks County Industrial Development Authority (BCIDA) for $12.5 million, which will accommodate a 906,919-square-foot regional distribution center. Set to open in 2014, the operation will employ 500 people. Jack Shepley of NAI CIR represented Dollar General in the transaction. PetSmart purchased 87.8 acres at Berks Park 78 for $9.7 million. The company will construct an 870,000-square-foot distribution center that can be expanded by 200,800 square feet. The center will also open in 2014 and employ 500 people. Bill Wolf, Tyson Vallenari and Blake Rasmussen of CBRE represented PetSmart in the deal. Jeffrey Williams and Stephen Cooper of Cushman & Wakefield represented BCIDA in the transactions.
ALLENTOWN, PA. — EcoTech Marine, a company that designs and manufactures reef aquarium equipment, has signed a lease for 35,465 square feet of warehouse space at 999 Postal Road in Allentown. The company plans to use the building for distribution and assembly. Michael Adams of NAI Summit represented the tenant in the transaction.