GROVES — Store It! @ Groves has purchased a 575-unit self storage facility, located at 6701 Gulfway Dr. in Groves. Houston-based The Jenkins Organization will operate the 67,013-square-foot facility. Steve Mellon of Grubb & Ellis' Houston office and Pete Williams of the firm's Memphis, Tenn., office represented the seller, MLCFC 2006-4 Gulfway Storage LLC, in the transaction.
Industrial
SAN DIEGO – The Mira Sorrento Business Park, a three-building, 97,472-square-foot industrial/flex property in the San Diego submarket of Sorrento Mesa, has sold to Mira Sorrento Venture LLC for $10,465,200. The complex was fully leased at the time of sale. CBRE’s Paul Lafrenz, Paul Komadina and Nick Psyllos represented the seller, Mirso Properties, L.P., along with Brian Crepeau and Ken Robak of Pacific Coast Commercial.
LA PUENTE, CALIF. — Rexford Industrial has purchased a two-building, 58,084-square-foot industrial complex in La Puente for $3.6 million. The off-market transaction, which was completed on an all-cash basis for the firm’s Rexford Industrial Fund V REIT, enabled the seller to avoid foreclosure. The complex is currently 70 percent leased. Stephen Shatafian of Lee & Associates represented Rexford in this transaction.
CORDOVA, TENN. — Westmount, Quebec-based Dalfen America Corp. has purchased the 234,000-square-foot Trinity Ridge Business Center, an eight-building REO industrial property located at 7730-7760 Trinity Rd. in Cordova, from the loan servicer, LNR Partners, for $7.2 million. DBSI Inc. acquired Trinity Ridge Business Center in 2007 for $22.9 million. The property was foreclosed on last year. Johnny Lamberson of CBRE represented the buyer in the transaction and Andrew Phillips of Colliers International's Memphis, Tenn., office represented the seller .
COLUMBIA, MO. — Westbrook, Maine-based IDEXX Laboratories Inc. has purchased RADIL, a research and diagnostic laboratory business, from the University of Missouri for $43 million in cash. The deal calls for all employees of RADIL to become IDEXX employees and continue to run the business in Columbia, Mo. IDEXX is an animal health instrumentation and software products company.
MISSOURI CITY — PCCP has provided $17.5 million in refinancing and construction financing for the approximately 500,000-square-foot Beltway Crossing, a warehouse/distribution complex located at 13323-13423 S. Gessner Rd. in Missouri City. Phase II of the complex is currently under construction and is slated for a third quarter 2012 completion. The loan was provided on behalf of the property's owner, a joint venture between Dallas-based Thackeray Partners Dallas/Fort Worth-based and Stream Realty Partners.
VERNON, CALIF. — An 86,000-square-foot industrial property in Vernon has sold to J&H Textile for $7,740,000. The property was built in 1972 and resides at 2301-2303 E. 55th Street. J&H was represented by Steve Kim of Magic Properties. Thomas A. Condo of Colliers International’s Commerce, Calif., office represented the seller, 55th Street Property LLC.
REDWOOD CITY, CALIF. — Zazzle has tripled its space within the Pacific Shores Center in Redwood City. The quality custom products manufacturer has leased 119,730 square feet of Class A office space at the center. It had been subleasing 36,750 square feet at an adjacent building within the center. The new building, located at 1800 Seaport Blvd., will serve as Zazzle’s headquarters. This space is currently occupied by Dreamworks SKG, which will be expanding and relocating within the center as well. Zazzle was represented by Mark Daschbach and John McKenna of Cornish & Carey Commercial. Pacific Shores’ owner, Starwood Capital Group, was represented by Mike Moran, Ben Paul, Michael Courson and Mike Connor of Cassidy Turley.
KENT VALLEY, WASH. — Kent Warehouse and Labeling has leased 240,000 square feet of warehouse space in the Northwest Corporate Park in Kent Valley. The Northwest Corporate Park consists of 19 buildings totaling 2.76 million square feet. The business park’s landlord, Principal Real Estate Investors, was represented by Matt Wood, Thad Mallory and Tony Miltenberger of Kidder Mathews.
KNOXVILLE, TENN. — Baker Realty Co. has brokered the $1 million sale of the 39,286-square-foot former Sea Ray Logistics building, a warehouse located at 5501 Island River Dr. in Knoxville. Bob Thornton of Baker Realty Co. represented the seller, Brunswick Corp., in the transaction and procured the buyer, LORYSAN.