STREETSBORO, OHIO — Luttner Real Estate Investment Services has arranged the $19.6 million sale of a 368,060-square-foot distribution center, located in Streetsboro. The property is fully leased to Best Buy. Mark Luttner of Luttner Real Estate represented the seller, Ohio-based GEIS Cos., in the transaction. The buyer was a New Jersey based public REIT.
Industrial
NAPERVILLE, ILL. — JBS Logistics has signed a 303,800-square-foot lease at Building 3 of Prairie Pointe Corporate Center, located at 2043 Corporate Ln. in Naperville. Jeff Fischer of NAI Hiffman represented the tenant in the lease transaction. Rick Daly and Cory Ramey of Darwin Realty represented the landlord, IDI and TIAA.
WEST ALLIS, WIS. — Winter Services has purchased a 33,400-square-foot industrial building, located at West Allis, from Rose Investments. Maximilian Yokosh and Kenneth Braden of Milwaukee-based Cassidy Turley Barry represented the seller in the transaction. Adam Matson of NAI — MLG Commercial represented the buyer.
LANCASTER, PA. — Bird-In-Hand, Pa.-based B&B Structures has purchased a 29,000-square-foot industrial property, located at 2200 Hathaway Rd. in Lancaster, for $900,000. Gerry Blinebury and Leah Balerno of Cushman & Wakefield's Philadelphia office represented the seller, while Scott Bradbury of U.S. Commercial Realty represented the buyer.
CHINO, CALIF. – A 78,021-square-foot industrial building in Chino has been sold to Yama Seiki for $4.2 million. This is the second time this property has been sold by Richard Schwartz and Brad Yates of Colliers’ Inland Empire office in 2011 alone. The milling machine manufacturer plans to use it as its U.S. headquarters. Yama Seiki was represented by Eddie Lee of Ashwill Associates. Schwartz and Yates represented the seller, Shield Packaging.
CONNERSVILLE, IND. — Carbon Motors Corp. has commenced refurbishing the Carbon Campus facility in Connersville. Shook Construction has been selected to lead construction efforts, and Moody Nolan has designed the renovation.
STREETSBORO, OHIO — Monmouth Real Estate Investment Corp. has acquired a 368,060-square-foot industrial building, located in the Interstate Commerce Center Industrial Park in Streetsboro, for $19.6 million. The property is net-leased through August 2021 to Best Buy Warehousing Logistics.
CLEVELAND — Grubb & Ellis has negotiated the $1.7 million sale of a 198,000-square-foot industrial property Unit No. 2, located at 777 Lena Dr. in Cleveland. The property is part of the former Lucas Aerospace Building. Terry Coyne of Grubb & Ellis' Cleveland office represented the seller, PB IL OREO, in the transaction. The buyer was Lena Commerce.
NEW YORK CITY — Manhattan-based Hudson Realty Capital has funded $8 million in note acquisition financing secured by the debt on four industrial buildings in Brooklyn. The properties total 64,875 square feet, and the loan has a 36-month term.
WEST CHESTER, PA. — West Chester-based Swope Lees has brokered the sale of a 40,000-square-foot flex building, located at 917 Old Fern Hill Rd. in West Chester. Jim Lees and Chuck Swope of Swope Lees represented the seller, Fern Hill Associates, in the transaction. The buyer, Fernhill Business Center, is planning on leasing the property to Wiggins Shredding. The property is currently 75 percent leased.