MICHIGAN AND OHIO — CIT Capital and Blue Water Automotive Inc.'s Creditors' Trust has sold a 775,000-square-foot, nine-building industrial portfolio in Michigan and Ohio. Several industrial manufacturing firms purchased the properties independently, which will utilize the buildings for a variety of manufacturing and distribution operations. The properties include a 140,000-square-foot building in Port Huron, Mich.; a 136,744-square-foot building in St. Clair, Mich.; a 133,000-square-foot building in St. Clair; a 70,280-square-foot building in St. Clair; a 63,550-square-foot building in Caro, Mich.; a 59,500-square-foot building in Wauseon, Ohio; a 56,296-square-foot building in Marysville, Mich.; a 54,166-square-foot building in Lexington, Mich.; and a 44,120-square-foot building Marysville. Rob Gemerchak, Andrew Harris and Bob Boyle of Binswanger represented the sellers in the transaction.
SAN FRANCISCO — Dennis Williams of NorthMarq Capital's San Francisco office arranged $20.1 million in acquisition financing for the Terreno portfolio. The Torino portfolio contains a combined 444,838 square feet in five industrial properties located in New Jersey, California, Washington and Flordia. Collectively these properties are 97 percent occupied. NorthMarq arranged the 7-year loan through its relationship with Prudential Life Insurance. The loan has a 30-year amortization schedule.
MCDONOUGH, GA. — Haas Group International has signed a 113,104-square-foot lease at the Westridge Logistics Center, located at 418-450 Westridge Pkwy. in McDonough. Denton Shamburger of Lincoln Property Co. Southeast's Atlanta office represented Morgan Stanley, the landlord, in the transaction. John Lancaster of NAI Robert Lynn's Dallas office represented the tenant.
RICHMOND, IND. —Chicago-based Perpetual Recycling Solutions has acquired the former 100,000-square-foot Amcast General Aluminum facility in Richmond. The company plans to invest $25 million in new equipment for its recycling facility. Tim Echemann of Industrial Property Brokers represented the seller, Park Ohio, in the transaction. The purchase price was undisclosed.
SADSBURY, TOWNSHIP, P.A. —New York City-based Area Property Partners has purchased a 314,521-square-foot bulk distribution center in Sadsbury Township for $16.2 million. The Class A facility is located at 200 W. Stewart Huston Dr. Jonathan Carpenter and James Wellschlager of Cassidy Turley represented the seller, BPG Properties, in the deal.
CLINTON, N.J. — Woodmont Industrial Partners and AEW Capital Management have jointly acquired the I-78 Logistics Center in Clinton for an undisclosed sum. The venture plans to convert the property, located at 111 Cokesbury Rd., into a regional distribution center. This is the first of what the venture anticipates will be a number of strategic acquisitions of industrial properties in seaport markets in the eastern U.S. Woodmont and AEW plan to acquire $250 million of assets under this investment program.
GREGORY — Corpus Christi-based Ewing Construction Co. has been selected for the $30 million, Phase I contract of the 200,000-square-foot TPCO Pipe Finishing Facility, an industrial property located at the intersection of State Highways 35 and 361 in Gregory. The design-build team includes architect KE Group, civil and structural engineer CSF Engineers and MEP engineer Dawson Van Orden Engineering. Construction on the 200-acre site is slated to begin this month and finish January 2013. The owner of the property is Tianjin, China-based Tianjin Pipe Corp., which is reportedly investing $1 billion in the Coastal Bend Region of the U.S. The new facility is the first project of the investment, which is projected to be the largest single investment ever by a Chinese corporation in the U.S.
HOUSTON — Marwell Properties has acquired a 15,300-square-foot warehouse, located at 11680 Brittmoore Park Dr. in Houston. John Ferruzzo of NAI Houston represented the buyer in the transaction. Jacob Carr of Transwestern's Houston office represented the seller, Sata Re.
TOLLESON, ARIZ. — MiTek, a subsidiary of Berkshire Hathaway, has signed a 10-year lease for a 259,200-square-foot, build-to-suit facility at 7890 W. Lincoln Street in Tolleson. The facility will be situated within the Tolleson Corporate Park. It is being constructed by Merit Partners, and is slated for completion in the second quarter of 2012. MiTek will be relocating to the facility from its current operations at 212 S. 37th Ave. in Phoenix. Payson MacWilliam and Don MacWilliam of Colliers’ Phoenix office represented both MiTek and the landlord, FR/CAL 3 Tolleson Buckeye, LLC, in this lease transaction.
SANTA FE SPRINGS, CALIF. — CapRock Partners has purchased two industrial buildings in Santa Fe Springs totaling 33,240 square feet. They are located at 11748 and 11760 Slauson Ave. The former property was built in 1968 and contains 15,240 square feet. The latter property was built in 1971 and features 18,000 square feet. Both buildings are undergoing extensive renovations. Rustin Mork and Mark Repstad of Binswager Realty Advisory Group represented CapRock in these acquisitions. They will also market the properties to owner-users. The seller was a second-generation owner/user that has gone out of business.