FENTON, MICH. — Panattoni Development Co. has acquired a vacant 534,600-square-foot industrial building in Fenton, located about 17 miles from Flint, Mich., for a reported $9 million. The building at 211-2231 Hitzert Court was constructed by Chrysler in 2000 and designed as a material supply building. The warehouse stored parts used to assemble vehicles at the adjacent Chrysler plant. The property features rail service by Burlington Northern and is located at the I-44 and I-270 arteries. Terry Stieve and Katie Haywood of Jones Lang LaSalle represented the seller in the transaction. Panattoni was self-represented by Mark Branstetter.
TEXARKANA — A joint venture between McCarthy Building Cos. and GCC Enterprises has started construction on the $40.5 million Red River Army Depot, a 230,000-square-foot vehicle assembly building located in Texarkana. Upon completion, which is slated for April 2014, the facility will be responsible for the overhaul, repair and return of the Army's combat and support vehicles. The facility will include a high-bay maintenance facility, interior offices and a cafeteria. The building was designed to achieve LEED Silver certification.
HOUSTON — Atlanta-based Weeks Robinson Properties and Houston-based Avera Cos. plan to develop the 562,000-square-foot Rampart Corporate Center, an industrial park located on a 40-acre site at West Little York and Holliston roads in Houston's northwest industrial submarket. The industrial park will consist of a 131,000-square-foot rear-load building, which is slated for an October 2012 delivery. Restoration Hardware has pre-leased 70,500 square feet in the facility, known as Building 100. The other two buildings include a 300,000-square-foot cross-dock facility and a 132,000-square-foot front-load facility. Powers Brown Architecture is designing the industrial park and Angler Construction is the contractor for Building 100. Faron Wiley of CBRE Group is handling the park's leasing and Carl Mullis and Billy Gold of CBRE Group represented Restoration Hardware in its lease transaction.
LA PORTE — Developers ML Realty Partners and National Property Holdings have selected Cadence McShane Construction Co. to build Port Crossing — Building A3, a 261,630-square-foot distribution facility located at 1902 S. 16th St. in La Porte. The facility is located within the 300-acre Port Crossing Commerce Center, a commercial/industrial park. The facility will feature staging bays, 47 dock-high loading doors, 16 rail-served doors, two grade-level ramps and 68 designated trailer parking spaces, a textured tiltwall panel exterior, ESFR sprinkler system, build-to-suit offices and 21 employee/visitor parking spaces. Houston-based Munson Kennedy Partnership is providing architectural services for the project.
COLUMBUS — Hackman Capital has acquired a portfolio of 11 industrial properties totaling 2.5 million square feet. The portfolio is 88 percent occupied and is comprised of a mix of multi- and single-tenant industrial, flex and distribution properties. Ten of the properties are located in the Columbus area and the remaining property is located in Ruther Glen, Va. Binswanger represented the seller, Schottenstein Property Group, in the transaction.
EDISON, N.J. — CDS Inc., which warehouses and distributes furniture, has signed a lease for 29,167 square feet of industrial space at 95 Ethel Road in Edison. The single-story property encompasses 101,928 square feet and features a 22-foot clear ceiling height. Barry Cohorsky of NAI Hanson represented the tenant in the transaction. Steve Bartner of Embee Associates represented the landlord.
LAKE FOREST, CALIF. — A 71,656-square-foot industrial/research & development building in Lake Forest has received $6.2 million in permanent financing. The building was constructed in 1999 and is fully leased to Panasonic Avionics Corporation, a subsidiary of Panasonic Corporation of North America. Financing was arranged by Kevin Burkhalter of Johnson Capital’s Los Angeles office. It was provided by a major insurance company and features a fixed interest rate of around 4 percent with a fully amortizing 20-year term. The recent buyer is a Los Angeles-based privately held entity.
ANAHEIM, CALIF. – The 82,544-square-foot La Palma Industrial Building has received $5.8 million in acquisition financing. The facility is located at 4890 E. La Palma Ave. in Anaheim. This asset is a single-tenant owner-user building. The 10-year loan features a 25-year amortization schedule and an 80 percent loan-to-value. It was arranged by David Blum of NorthMarq Capital’s Los Angeles regional office.
CONCORD, N.C. — Beacon Partners has added 68 acres to an existing 54-acre parcel with plans to develop a 1.5 million-square-foot manufacturing facility called RiverOaks Corporate Center. The property is located at the corner of Poplar Tent and Derita Road. As part of the development, Beacon worked with the property owner to donate 28 acres to the Cabarrus County Soil and Water Conservation District, which will serve as an amenity for park employees and be incorporated into the Carolina Thread Trail. Beacon Partners is the developer, ColeJenest & Stone is the civil engineer and Merriman Schmitt Architects is the project architect. Grading of the site will begin in the second quarter of 2013. Jim Plyler and Lester Osborn of Piedmont Properties represented Beacon Partners in the transaction. Glen Tucker of Re/Max represented the property owner.
ATLANTA — STAG Industrial has purchased a 407,981-square-foot warehouse and distribution building, located in Atlanta, for $11.3 million. The property is fully leased to Empire Distributors, which has nine years remaining on its lease. The facility serves as the company's headquarters facility and the main distribution point for the State of Georgia.