LIVERMORE, CALIF. — A 36,400-square-foot R&D building in Livermore has sold to Globalhawk Insurance for $3.87 million. The property is located at 2525 Colliers Canyon Road within the Shea Business Center. Globalhawk will be relocating from nearby 3090 Independence Drive. The buyer was represented by Mark Dowling and Matt Manos of Cassidy Turley. The seller was Shea Center Livermore Office, LLC.
MEMPHIS, TENN. — A joint venture between Hillwood Investment Properties and Brookfield Asset Management has purchased a 1.6 million-square-foot industrial portfolio, located within Southpark Distribution Center in Memphis. The acquisition includes five Class A industrial buildings.
WEST DUNDEE, ILL. — Opus Development Corp. has been selected to develop and build a 223,488-square-foot, build-to-suit warehouse for Maxzone Vehicle Lighting Corp. in West Dundee. Located on 11.3 acres in the Oakview Corporate Park, the facility will include 3,000 square feet of office space, 20 truck docks and two drive-in doors. Construction will begin this month, with completion slated for the end of this year. Eric Chang of US Asia Investment Group represented Maxzone in the deal. Noel Liston from Darwin Realty and Development Corp. represented The Opus Group.
DENTON — Dallas-based PMFG has begun construction on its new 80,000-square-foot manufacturing facility, located in Denton. CBRE Group represented PMFG in its acquisition of the 33-acre site. The facility is slated to employ approximately 150 people upon completion.
REDONDO BEACH, CALIF. – A 103,000-square-foot industrial property in Redondo Beach has sold to Terreno Realty Corporation for $14.2 million. The property is located at 2475-2477 Manhattan Beach Blvd. It is fully leased to one tenant.
COLUMBUS, OHIO — Hackman Capital, an investment firm based in Los Angeles, has purchased a 2.8-million-square-foot industrial portfolio from Schottenstein Property Group. The portfolio contains 45 industrial and flex buildings. Fourty-four of the facilities are located in the Columbus metro area and one is located in Ruther Glen, Va. Hackman will oversee the new assets, along with its Midwest operations, from its Columbus office.
HOUSTON — HFF has arranged the sale of a four-property industrial portfolio located in Houston, which totals approximately 935,937 square feet. The properties include the six-building, 205,812-square-foot Astro Business Park, which is 93 percent leased and located at 8825-9087 Knight Road; the two-building, 225,475-square-foot Griggs 1 and 2, which is 91 percent leased and located at 5990-6018 Griggs Road; the four-building, 298,081-square-foot McCarty Business Park, which is fully leased and located at 245-279 McCarty Trail; and the four-building, 206,569-square-foot Westpark 1-4, which is 88 percent leased and located at 8710-8798 Westpark Drive. Rusty Tamlyn and Trent Agnew of HFF's Houston office, along with Randy Baird, Jud Clements and Robby Rieke of HFF's Dallas office, represented the sellers, Dallas-based Cobalt Capital Partners, in the sale. The buyer was San Francisco-based Stockbridge Capital Group.
CARROLLTON — Hudson Peters Commercial has arranged the sale of a 150,000-square-foot industrial property, located at 1235 W. Trinity Mills Road in Carrollton. Michelle Hudson of Hudson Peters Commercial represented the buyer, Earl Owen Co., in the transaction. Noel Hutcheson of Colliers International represented the seller, Acquiport DFWIP Inc.
VICTORVILLE, CALIF. — Pacific Aviation Group, LLC and Fastenal Company have signed new leases at the Southern California Logistics Centre (SCLC) in Victorville. SCLC is a 2,500-acre industrial and commercial complex that is currently undergoing an expansion. Pacific Aviation signed a 64-month renewal that will allow the company to expand into a 58,732-square-foot facility. Fastenal Company signed a 36-month renewal for its 6,322-square-foot facility. The lease renewals were executed by Anita Tuckerman of Stirling Capital Investments.
BATTLE CREEK, MICH. — Agracel Inc., an industrial developer, has purchased a 308,730-square-foot distribution building at 2500 Logistics Dr. in Battle Creek. The property is situated on 24 acres and features 26-foot clear ceiling heights, 33 truck docks, one drive-in door and 7,650 square feet of air-conditioned office space. The facility is situated midway between Chicago and Detroit off I-94 in the Fort Cluster Industrial Park. Rob Gemerchak of Binswanger represented the seller, MS Skyline LLC, in the transaction.