OTAY MESA, CALIF. – JJB Silverhawk, a Hamann partnership, has purchased 16.6 acres of commercial land in Otay Mesa for $3.8 million. The lot is currently entitled for 335,000 square feet of warehouse/manufacturing space. This is Hamann’s third Otay Mesa purchase within the past eight months. CBRE’s Rob Hixson and Rich Kwasny represented both the buyer and the seller, South Bay Distribution, LLC, in this transaction.
POMPANO BEACH, FLA. — Atlanta-based Weeks Robinson Properties and Jeremy Shapiro of Miami-based Mainstream Investment Realty plan to build a 202,000-square-foot speculative industrial project, located at 3901 NE 12th Ave. in Pompano Beach. The Class A building will include 32' clear heights, an ESFR sprinkler system and 180' truck courts. Itasca Construction is the contractor for the development and Randall Paulson Architecture is the designer. Ground breaking is scheduled within the next 60 days, and completion is slated for April 2013.
STERLING HEIGHTS, MICH. — Sterling Heights Titleholder has paid $3.35 million for a 66,312-square-foot industrial facility at 6833 Center Dr. in Sterling Heights. Built in 1998, the freestanding building recently underwent significant upgrades. The property is leased to a tenant on a long-term basis. Larry Emmons, Patrick Shannon and Mike Davidson of Newmark Grubb Knight Frank represented the seller, First Industrial Realty Trust, in the transaction. Shannon and Tony Avendt, also of Newmark Grubb Knight Frank, represented the buyer.
PASADENA — Vantex Commercial Property Group has brokered a lease renewal for 300,000 square feet of industrial space at Bayport North Distribution Center II, located at 4331 Underwood in Pasadena. Walter Menuet of Vantex represented the landlord, Bayport II Mountain West Houston LLC, in the lease renewal transaction. Randy Wolcott of ProVenture Commercial Real Estate represented the tenant, Ozburn-Hessey Logistics.
HOUSTON — NorthMarq Capital has arranged first mortgage refinancing for the 260,000-square-foot West Belt Business Park, located at 10611-10651 Harwin Drive in Houston. John Burke and Chad Owens of NorthMarq arranged the seven-year loan with a 30-year amortization schedule through a life insurance company on behalf of the borrower, InSite West Belt LP.
BALTIMORE — Industrial Income Trust has acquired a 222,636-square-foot warehouse, located at 7621 Energy Parkway in Baltimore, from High Street Equity Advisors for $15.22 million. The property is fully leased to Reliable Churchill. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller in the transaction.
KANSAS CITY, KAN. —Comprehensive Logistics (CL), a third-party logistics provider that services the local General Motors assembly plant, leased the entire 517,000-square-foot industrial building at 5300 Kansas Ave. in Kansas City for a five-and-a-half year term. The tenant also leased 120,000 square feet in an adjacent property. CL opened in half the space at 5300 Kansas Ave. in 2010. The company states that it required more space as the GM assembly plant in Fairfax grew. Mark Long of Zimmer Real Estate Services represented the building owner, BH Properties, in the transaction. Howard Moss of Omni Consulting and Jack Allen of Karbank Real Estate Co. represented the tenant.
SAN DIEGO – Spanky’s Portable Services has signed a six-year lease renewal and expansion at Rancho San Diego Industrial Center. The renewal includes 7,200 square feet of warehouse space and 36,000 square feet of adjacent yard space. Ron Bement of Cushman & Wakefield represented the landlord, BCL Inc., in this lease transaction.
CHICAGO — Stainless Sales Corp. has signed a lease for 38,812 square feet at 2310 W. 57th St. in Chicago's South Side. The facility is located near the company's other south Chicago location. Matt Rogatz of Chicago Industrial Real Estate represented the building owner in the transaction. Steve Kohn of Colliers International represented the tenant.
VALENCIA, CALIF. – Arvato Digital Services has renewed its lease for a 165,141-square-foot industrial property in Valencia. The five-year lease is valued at $6.3 million. The property is located at 29011 Commerce Center Drive. Arvato was represented by John DeGrinis, Patrick DuRoss and Jeff Abraham of Colliers’ Encino office. The landlord, Sares Regis Group, was represented by CBRE’s Craig Peters.