YONKERS, N.Y. — Express Cabinets Inc., a kitchen cabinetry manufacturer, is relocating its operations from 310 Sherman Ave. in Newark to 630 Central Park Ave. in Yonkers. The company purchased a 200,000-square-foot industrial building for $7.6 million. William Cuddy, Jr. and Budd Wiesenberg of CBRE's Stamford office represented the seller, Stewart EFI. Express Cabinets will move into the building in the spring of 2012.
VANCOUVER, WASH. — Watumull Properties Corp. has purchased a 61,350-square-foot light industrial building in Vancouver for $3,150,000. Watumull was represented by Greg Nesting of Norris and Stevens. Brian Sullivan of Coldwell Banker Bain Commercial represented the seller, Dekas, LLC. Norris and Stevens will manage the property.
TAMPA, FLA. — EastGroup Properties has purchased a 16-property, 1.1 million-square-foot industrial portfolio, located in Tampa, from an undisclosed seller. After disposing of six non-core buildings, the company will retain 1.07 million square feet with a projected total investment of approximately $55.4 million. The core portfolio is currently 92 percent leased.
GREENWOOD, IND. — KYB Americas Corp. has signed a 153,748-square-foot lease at Southpoint Business Park, located at 850 North Graham Rd. in Greenwood. Franklin, Ind.-based KYB manufactures shocks, struts and suspension components. The company will use the space to distribute products to aftermarket customers in the U.S. and Canada. Mark Bell and Sean McHale of Colliers International represented KYB in the transaction. The landlord, IDI, was represented by Doug Armbruster of IDI.
VIRGINIA BEACH, VA. — Stihl has plans to expand its U.S. headquarters, located in Oceana West Corporate Park at 536 Viking Dr. in Virginia Beach, by 53,256 square feet. The $10.3 million project will create 52 new jobs within 36 months. The company currently occupies more than 1 million square feet of industrial space in eight buildings at the property. Completion for the expansion is slated for the spring of 2012.
BLOOMFIELD, N.J. — CBRE's Capital Markets' Debt & Equity Finance group has secured $47.5 million in construction financing on behalf of Prism Capital Partners LLC for The Parkway Lofts at Watsessing Station, a 361-unit redevelopment in Bloomfield. U.S. Bank provided the loan, which is for a three-year term with a single one-year extension. Prism plans to convert a 365,000-square-foot warehouse building into loft-style apartments. Phase II of the build-out will include a high-density residential village with 150 townhomes.
HOUSTON — Sugar Land-based ICO Commercial has arranged the sale of a 12,000-square-foot industrial property, located at 12111 Brittmoore Park Dr. in Houston. Payton Indermuehle of ICO Commercial represented the buyer, Innova Integrated Solutions, in the transaction. Steven O'Conner of Houston-based Southwest Realty Advisors represented the seller, Brittmoore Park Partners.
LOS ANGELES — Voit Real Estate Services has recently sold two industrial properties totaling 47,620 square feet within the Los Angeles area for $4.8 million. The first property is a 28,300-square-foot industrial building at 16000 Phoebe Ave. in La Mirada. It sold to Evergreen Packaging for $2.7 million. Evergreen was represented by Grubb & Ellis. Cameron Driscoll and Luke McDaniel of Voit’s Anaheim office represented the seller, InSite Realty Advisors. The second sale involved a 19,320-square-foot, single-occupant industrial building at 9046 Sorensen Ave. in Santa Fe Springs. It sold to Steven Label for $2.1 million. Steven Label was represented by Lee and Associates. Driscoll and McDaniel also represented this seller, Kearny Real Estate Company.
JACKSON, OHIO — Boston-based STAG Industrial Inc. has acquired a 307,000-square-foot warehouse and distribution facility in Jackson for $12.6 million. The building was constructed in 2001 as a build-to-suit and is fully leased to Gerdau Ameristeel Perth Amboy Inc., a long steel manufacturer.
MESQUITE — Lee & Associates has arranged the sale of a 10.86-acre tract of land, located at Big Town Boulevard in Mesquite, to be used for industrial purposes. Mark Graybill of Lee & Associates' Dallas/Fort Worth office represented the seller, Dallas-based Royalton Real Estate Capital, in the transaction. Union Pacific was the buyer.
