LOS ANGELES — Barker Pacific Group and Artemis Real Estate Partners have formed a joint venture to acquire self-storage assets throughout the Southwestern U.S. Their first investment was a 112,590-square-foot King Road Self-Storage in San Jose that was purchased for $8.45 million. The facility features 1,039 storage units, as well as surface parking for boat and RV storage. King Road was lender-owned. The brokers for the seller were Chico LeClair and Nicolas Walker of Marcus & Millichap. Barker Pacific represented itself in this transaction.
Industrial
WASHINGTON, D.C. — DCT Industrial Trust has signed a long-term lease with a subsidiary of a Fortune 500 company for its 179,000-square-foot Phase II at Dulles Summit, located in the Dulles Corridor submarket of Washington, D.C. The first building is slated for completion in the third quarter of 2012 and the second building will be complete in the first quarter of 2013. Rob Rakusin of Seefried Properties' Atlanta office, along with Steve Cloud of Transwestern's Vienna, Va., office represented the landlord in the lease transaction.
ONTARIO, CALIF. — Two manufacturing buildings in Ontario have been purchased by Rexford Industrial for $4.8 million. The buildings reside on 8.93 acres adjacent to Ontario International Airport. This was an off-market, sale-leaseback transaction that was executed on behalf of Rexford Industrial Fund V REIT. The seller, Plastics ResearchCorporation, has signed a 10-year lease to fully occupy the buildings at 1400 South Campus Ave. Dan Foye of Daum Commercial represented both Rexford and Plastics Research in this transaction.
NORWALK, CONN. — SalesOne LLC has purchased an industrial property at 16 Fitch St. in Norwalk for $1.5 million. SalesOne is a jewelry and accessories manufacturer and will use the facility to expand its operations. The building was previously occupied by Harco Fitch Co. Bruce Wettenstein of Vidal/Wettenstein LLC represented the buyer in the deal.
ONTARIO, CALIF. – A 102,878-square-foot, Class A distribution facility in Ontario has sold to Industrial Income Trust for $8,333,000. The facility is located at 5505 Concours Street and includes 65,572 square feet of cooler space. Clyde Stauff and Ian DeVries of Colliers International represented both the buyer and the seller, the Caldwell Company, in this transaction.
SANTA ANA, CALIF. — Edinger Business Park, a 61,923-square-foot multi-tenant industrial and office park in Santa Ana, has sold to Frome Developments Omega, LLC for $4.7 million. The three-building property was 91 percent occupied at the time of sale. The park is located at 1560, 1570 and 1580 E. Edinger Ave. Frome was represented by Dan Vittone and Alan Pekarcik of Voit’s Irvine office in this transaction.
CITY OF INDUSTRY, CALIF. — ACME Furniture has signed a five-year lease for a 500,000-square-foot industrial facility at 20002 Business Parkway in the City of Industry. The national furniture company also houses its headquarters in a 320,000-square-foot space within the city. ACME was represented by Adam Dzierzynski of Lee & Associates’ City of Industry office. The landlord, Majestic Realty, represented itself.
CINCINNATI — Beauty care manufacturer Kao USA Inc. has signed a lease to relocate from its current corporate headquarters on Spring Grove Avenue to the 312 Plum St. building in Cincinnati. The company will occupy 55,000 square feet of the building. Kao also plans to renovate the Spring Grove Avenue facility, where the research and development and manufacturing facilities will remain. The company expects to move this summer.
SPARTANBURG, S.C. — A 50,000-square-foot industrial building, located at 4250 Orchard Park in Spartanburg, has sold for $1.72 million. The building is fully leased to Spartan Foods of America and serves as its corporate headquarters and primary production facility. Drayton Calmes and Frank Norvell of Charleston, S.C.-based Norvell Real Estate Group represented the seller in the transaction. San Francisco-based Redland Group, the buyer, was self-represented.
JEFFERSONVILLE, IND. — Amazon.com Inc. plans to open a $150 million warehouse and distribution center in southern Indiana, where as many as 1,050 full-time workers will be hired. The center is expected to open this fall. The Seattle-based online retailer already operates warehouse facilities in Indianapolis, Whitestown and Plainfield and has a total footprint of more than 4 million square feet in the state. The facility will be located in Jeffersonville's River Ridge Commerce Center, which is adjacent to a state-operated port on the Ohio River.