ATHENS, GA. — Caterpillar has selected a site near Athens to build a $200 million, 1 million-square-foot manufacturing facility. The property will be part of Caterpillar's Building Construction Products Division, which is based in Cary, N.C. Once fully operational, the facility will employ 1,400 people. Ground breaking is slated to occur in the first quarter of 2012, with initial production at the facility to begin in late 2013, ramping up to full production during a 5-year period.
Industrial
AURORA, ILL. — The distribution branch of the Vescovini Group, an Italian-based manufacturing company, has signed a 55,161-square-foot lease at 1455 Sequoia Dr. in Aurora. The facility will be the company's first distribution center in the U.S. Jeff Girling and Terry Lynch of Paine/Wetzel represented the tenant in the transaction. The landlord, IDI, was represented in-house by Jeff Lanaghan of the company's Chicago office.
COON RAPIDS, MINN. —Grandbridge Real Estate Capital has arranged a $3 million loan for the refinancing of three industrial properties totaling 95,000 square feet in Coon Rapids. The properties are 95 percent occupied. Ben Fazendin and Crhis Perry of the Minneapolis of Grandbridge originated the loan. RiverSource Life Insurance Co. provided funding for the 10-year loan, which includes a 25-year amortization schedule.
FORT WORTH — Dallas-based Bradford Commercial Real Estate Services has arranged a 15,545-square-foot industrial lease, located in Building 2 at 7873 S. Will Rogers Blvd. in Fort Worth. Nick Talley of Bradford Commercial represented the landlord, Carter Industrial Partners, in the lease transaction. Tyler Baucom of HGC Commercial Real Estate's Fort Worth office represented the tenant, Rubber & Gasket Co.
CLAREMONT, CALIF. — A 69,428-square-foot, six-building industrial park in Claremont has sold to a private investor for $8,775,000. The business park was built in 1988 and is composed of five single-tenant buildings and one multi-tenant building. It was fully leased at the time of sale. The seller, Claremont Business Park, LLC, was represented by Grubb & Ellis’ Robert Griffith and Steven Ward.
MONROE, N.C. — Choate Construction Co. has been selected to construct a 99,500-square-foot addition to Greiner Bio-One N.A.'s manufacturing facility, located at 4238 Capital Dr. in Monroe. The addition will include a 15,000-square-foot mezzanine structure with executive office areas on the upper level and lab areas with a controlled environment below.
HOUSTON — Houston-based ICO Commercial has arranged a 33,260-square-foot lease of showroom and warehouse space, located at 9503 and 9505 Harwin Dr. in Houston. Los Angeles-based Discount King leased the property from the undisclosed landlord. Larry Indermuehle and Jane Holloway represented the landlord in the lease transaction.
LA PALMA, CALIF. — Travelers Club Luggage has signed a 63-month lease for 131,280 square feet at an industrial building in La Palma. The new lease will take the building, which is owned by DEXUS Property Group, to 100 percent occupancy. Kent Choi of NAI Capital represented Travelers Club Luggage. Peter Castleton, Cameron Driscoll and Luke McDaniel of Voit Real Estate Services represented DEXUS in this transaction.
ST. ROSE, LA. — Delta Petroleum Co. has signed a 220,000-square-foot lease for an industrial property, located at 10352 River Rd. in St. Rose. Tom McGarity of Cassidy Turley's Columbus, Ohio, office, along with Max J Derbes Co., represented the tenant in the lease transaction. Yeti Holdings is the landlord.
NAPERVILLE, ILL. — Duke Realty Corp. has acquired an 827,258-square-foot industrial building in Naperville, which is fully occupied by Crate and Barrel under a long-term lease. Jeff Devine, Steve Disse and Jeff Kahan of Colliers International represented the seller, DB Real Estate West Jefferson Partners, in the transaction. The acquisition is Duke's fourth industrial purchase in Chicago since 2011, raising its total portfolio in the market to 10 million square feet.