SAN JOSE, CALIF. — Relectric Supply Company has leased a 76,972-square-foot industrial building in North San Jose that is located at 2390 Zanker Road. Relectric is relocating from a 26,000-square-foot facility it had leased on nearby Rogers Avenue. The new space will provide Relectric with warehouse/manufacturing and office space. The company was represented by Steve Horton and Kelly Yoder with Cassidy Turley. The building is owned by RREEF.
DES MOINES — A partnership between The Toro Co. and Ryan Cos. has broken ground on a 450,000-square-foot distribution center near Des Moines. Toro will lease the facility from Ryan Cos. once construction is completed later this year. Toro plans to move its distribution operations from its current facilities in Lakeville, Minn. and Beatrice, Neb. to the new Des Moines facility. The facility will employ about 20 people. The Toro Co. manufactures lawn care products such as mowers and irrigation systems.
ANDOVER, MASS. — Physical Sciences Inc., a research and development firm, has signed a 65,000-square-foot lease renewal at the New England Business Center in Andover. Physical Sciences fully occupies Building 20, which includes 49,000 square feet of office space and 16,000 square feet of laboratory space. Michael Dalton of Cassidy Turley FHO's Boston office represented the tenant in the transaction. Kerry Hawkins and Andrew Majewski of CBRE's Boston office represented the landlord, New Boston Fund Inc.
BIRMINGHAM, ALA. — Graham & Co. has negotiated the $2.45 million sale of a 45,000-square-foot industrial property, located at 350 Industrial Dr. in Birmingham. Ogden Deaton of Graham & Co.'s Birmingham office represented Prime Properties of Alabama, the buyer, in the transaction. SCP 350 Industrial LLC was the seller.
COLUMBUS, OHIO — Morris, Smith & Fehy (MS&F) Inc. has arranged a $4.5 million first mortgage loan for a 63,744-square-foot industrial building in Ohio. The property is fully leased to Ferro Corp., a producer of specialty materials and chemicals, which are sold to a range of manufacturers. The 15-year loan has a 15-year amortization schedule. Jeff Morris of MS&F's Columbus office originated the loan on behalf of Davis Development Group.
BOSTON — Suffolk Construction has been selected to build a $21.5 million bioprocessing center at the University of Massachusetts Dartmouth. Located on a four-acre site 10 miles off campus, the 38,000-square-foot facility will serve as an incubator space for small life science companies in Fall River's SouthCoast BioPark. Companies can test their biomanufacturing processes in the facility while paying a monthly rent that is lower than traditional lab space. The facility will include a variety of laboratories such as research, development, training and quality control. The project will also include a warehouse area, lecture rooms and office space. Construction is expected to begin this April. The project is slated for completion in 2013.
OLIVE BRANCH, MISS. — Monmouth Real Estate Investment Corp. has acquired a 234,660-square-foot industrial building, located at 8644 Polk Ln. in Olive Branch, for $16.2 million. The property, which was a build-to-suit developed by IDI, has net-leased for 10 years to Anda Pharmaceuticals, a distribution division of Watson Pharmaceuticals.
NORCROSS, GA. — The 33,000-square-footo Northwoods Data Center, located at 2775 Northwoods Pkwy. in Norcross, has sold for $5.3 million. The property is fully leased through 2025 to a co-location tenant that operates in 10 separate markets and runs a total of 21 data centers. Kansas City, Mo.-based Carter Validus Mission Critical REIT was the buyer.
LOS ANGELES – NRI, the Canada-based third-party logistics firm, has ventured into Southern California. NRI USA, a strategic partnership between Canada’s NRI Distribution Inc. and Westlife Distribution, has leased 64,000 square feet at 13200 S. Broadway Ave. in Los Angeles. NRI USA was represented by Cushman & Wakefield’s Los Angeles South team of Rusty Smith, Steve Bohannon and Rooney Daschbach. Prologis, the building’s landlord, was represented in-house in this transaction.
ADDISON, ILL. — Micromatic Spring and Stamping Co. has purchased a 72,000-square-foot industrial building at 45 N. Church St. in Addison. Micromatic, which manufactures springs, wireforms and stamped products, is moving to the property from 9325 King St. in Franklin Park, Ill. Phil Reiff and Phil Reiff, Jr. of Paine/Wetzel/TCN Worldwide represented the buyer. Dan Brown and Mike Antonelli of Brown Commercial Group represented the seller, Lillypad Development. The purchase price was undisclosed.