FRANKLIN TOWNSHIP, N.J. — Data center developer Russo Development has secured planning approval to move forward with Somerset Technology Park, a 71-acre data center campus in Franklin Township. The site can support more than 1.5 million square feet in multiple facilities and includes electrical power capacity of 100 megawatts from multiple 69kV feeds. Russo expects to begin site development activities within the next few months. This will be the company's ninth data center development in the New York metropolitan area.
SYLMAR, CALIF. — Corner Records Management, LLC has signed a five-year lease for 80,480 square feet of industrial space at the Valley Gateway Business Park in Sylmar. The space features 7,000 square feet of office space. Ray Howden of Cushman & Wakefield represented Corner Records. Chris Sullivan of DAUM’s San Fernando Valley office represented thelandlord, World Oil Corp, in this transaction.
SCOTTSDALE, ARIZ. — A 34,768-square-foot industrial building in Scottsdale has sold to a Phoenix-based partnership for $3 million. It was developed in 1999 as a build-to-suit facility for The Arizona Republic, however, the building has been vacant for more than two years. Rick Foss of NAI Horizon represented the Phoenix partnership. Kyle Westfall and Pat Harlan of Cushman & Wakefield represented the seller, Gray Road Properties, LLC, in this transaction.
CARLISLE, PA. — Trammel Crow Co. and USSA Real Estate Co. plan to break ground on a 700,000-square-foot, Class A distribution facility at Mountain Creek Distribution Center in Carlisle. The two-building project will be located on 113 acres at Exit 44 of Interstate 81. The first building is slated for completion in the summer of 2012 and will include cross dock loading and 32-foot clear height ceilings. The project is approved for more than 1 million square feet of space and is designed to achieve LEED Core & Shell.
DENVER – Halliburton has committed to creating a major sand terminal that will accommodate more than 500 of the company’s employees inside the Great Western Industrial Park in the Denver-Julesburg (DJ) Basin. This new project will serve energy production demand in the DJ Basin and Niobrara Formation. The sand storage facilities will be built on a 54-acre site within the park. Construction will commence this quarter, while operations will begin in the second quarter. The Great Western Industrial Park was developed by The Broe Group.
TAMARAC AND FORT LAUDERDALE, FLA. —A four-property industrial portfolio, located in Tamarac and Fort Lauderdale, has sold for $18.9 million. The properties include the 125,000-square-foot Tamarac Business Center, located at 6701 Nob Hill Rd. in Tamarac; the 49,100-square-foot Tamarac Commerce Center, located at 6501 Nob Hill Rd. in Tamarac; the 10,000-square-foot Sunny Morning Foods, located at 5330 NW 35th Ave. in Fort Lauderdale; and the 24,490-square-foot Sun Sentinel Building, located at 3585 Nw 54th St. in Fort Lauderdale. Malcolm Butters of Coconut Creek, Fla.-based Butters Realty & Management, along with Douglas Mandel of Marcus & Millichap's Fort Lauderdale office, represented the seller, an affiliate of the Butters family, in the transaction. The buyer was Denver-based Industrial Income Trust.
NEW YORK CITY — Ariel Property Advisors has closed the $1.2 million sale of a Brooklyn industrial property, located at 79-85 Georgia Ave. The 15,000-square-foot property is currently being used as a garage. Jonathan Berman and Jesse Deutch of Ariel represented the seller in the transaction. The buyer was a building tenant.
GRAND PRAIRIE — Lee & Associates has secured a 154,330-square-foot industrial lease, located at 701-721 S. Parkway Dr. in Grand Prairie. Mark Graybill and Donnie Rohde of Lee & Associates' Fort Worth office represented the landlord, First Industrial, in the lease transaction. Noel Hutcheson of Colliers International's Dallas office represented the tenant, Amalgamated Sugar Co.
NORCROSS, GA. — An affiliate of BPG Properties, Ltd., has recently signed leases totaling 44,276 square feet at one of its 57,844-square-foot buildings at Atlantic Industrial Park, located at 3004-3028 Adriatic Ct. in Norcross. Georgia Trading Post renewed its 30,593-square-foot lease, Ratrix leased 6,240 square feet and A&H Wholesales leased 7,623 square feet. Lee Cardwell of Colliers International's Atlanta office represented Ratrix in its lease transaction. Matt DiLeo and Wendy Tomich of Stream Realty Partners' Atlanta office are the leasing agents for the property.
ATLANTA — Atlanta-based IDI has plans to begin construction on the 650,000-square-foot Building A, a speculative industrial property located at Riverside Business Center in Atlanta. The building will be built to LEED certification. Completion is slated for the third quarter of 2012. When complete, Riverside Business Center will include 1.2 million square feet of warehouse and industrial space. In addition, there are two commercial sites on the property totaling 20 acres, which will be used for retail and commercial uses.