CHICAGO — Jones Lang LaSalle's Capital Markets and Industrial Services has arranged a programmatic joint venture equity vehicle between Sitex Realty Group (SRG) and State Teachers Retirement System of Ohio, which will seek to acquire more than $140 million of industrial real estate over the next two years. Slated to begin June 1, the venture will target the Chicago, New Jersey and New York metro regions for its acquisitions. SRG will lead and operate the new venture. James Tramuto, Keith Stauber, John Huguenard, Dave Hendrickson and Sean Devaney led the Jones Lang LaSalle team in the transaction.
BEAUMONT — McCarthy Building Cos. has been selected to build the Maritime Administration Beaumont Layberth Facility, a $34.6 million design/build marine project located on the Neches River in Beaumont. The project is McCarthy's first contract with the U.S. Department of Transportation. The project will provide long-term safe lay-berthing facilities for eight large vessels and will include fixed concrete berths, dredging, electrical service, shore side lighting, communication, parking lots, road construction, a perimeter fence and a controlled access gate. Construction is scheduled to begin in October and completion is slated for July 2013. HDR Engineering is the lead design engineer for the project.
SHERWOOD, ORE. — U-Haul has purchased a 60,000-square-foot facility in Sherwood from Tercek Properties for $3.6 million. The company plans to use this space as a full-service facility with storage, vehicle rentals and trailer hitch installation. The sale was brokered by Scott Finney of Norris & Stevens.
MESA, ARIZ. — Falcon Commerce Park, a 33,340-square-foot, two-building industrial project in Mesa, has sold to L’Argent LLC for $1.9 million. The park is located at 1656 North Banning and 1655 North Rosemont. L’Argent was represented by Mike Parker of Colliers. The seller, Arizona Graystar Return, LLC, was represented by Paul Boyle and Rick Danis of Cassidy Turley BRE Commercial’s Capital Markets Group.
WAUKEGAN, ILL. — Visual Pak Cos. has renewed its lease for 111,182 square feet at 1817 Waukegan Road within the Amhurst Lake Business Park in Waukegan. The packaging provider chose to remain at the industrial facility due to its close proximity to Visual Pak's headquarters building. Whit Heitman, Samuel Badger and Brad Weiner of Paine/Wetzel/TCN Worldwide represented the tenant in the transaction. They also represented the landlord, Prudential Real Estate.
NEW YORK CITY — The Brooklyn Navy Yard Development Corp. plans to invest $46 million to build a manufacturing center in the Navy Yard, which will focus on environmentally friendly tenants. The company recently announced two anchor tenants — Crye Precision and Macro Sea. Crye designs and manufactures body armor and apparel for the U.S. armed forces. The company received $1 million in funding to expand its current operations at the Navy Yard and agreed to lease 80,000 square feet. Macro Sea, a real estate developer, will lease more than 50,000 square feet for a new facility called New Lab. The space will promote innovative design and incorporate universities and businesses in a collaborative workspace. The Green Manufacturing Center will be housed in three former World War II-era machine shops. Major construction is set to begin this summer and will take approximately 18 months to complete.
HOUSTON — DCT Industrial Trust has acquired the 98,000-square-foot DCT Claymoore Center, two Class A industrial properties located in Houston's Northwest submarket, in an off-market transaction. The properties are 95.8 percent leased, and this acquisition brings DCT Industrial's Houston portfolio to 3.5 million square feet.
TEMPE, ARIZ. — Appliance Depot has signed a five-year lease for 38,400 square feet of industrial space in Tempe. The facility is located at 2424 W. University Drive. Appliance Depot was represented by Chad Neppl and Jeff Hays of NAI Horizon. The landlord, Sigour Investment Trust, was represented by Matt McDougall & Stein Koss with Lee & Associates.
MIAMI — Sunshine Bouquet has signed a 95,000-square-foot lease at the 215,000-square-foot Miami International Distribution Center, located at 2003 NW 70th Ave. in Miami. Thomas Kresse, Walter Byrd and Ben Eisenberg of Transwestern represented DCT Industrial, the landlord, in the transaction.
HOUSTON — Levey Group will build an 18,000-square-foot industrial tilt-wall property, located in the Northwest Place Industrial Park at West Little York and Bingle roads in Houston. The build-to-suit property is leased by GHX Industrial. The new facility includes 3,670 square feet of office and showroom space. GHX is slated to take occupancy in September 2012. Jim Foreman and Beau Kaleel of Cushman & Wakefield represented Levey in the lease transaction. Eric Lestin of TGB Crosswell represented the tenant.