BUFFALO GROVE, ILL. — Forefront Properties has acquired a 121,096-square-foot industrial building, which is located at 900 Busch Parkway in Buffalo Grove, for an undisclosed price. Built in 1985 and renovated in 1999, the property offers 22,740 square feet of office space and heavy power. The seller was R.G. Ray. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis brokered the transaction.
BILLERICA AND CHICOPEE, MASS. — Richards Barry Joyce & Partners (RBJ) has brokered two distressed industrial sales in Massachusetts. In the first transaction, Billerica Business Center traded for $15 million. Located in Billerica, the property consists of six buildings totaling 448,616 square feet of office and flex space. Occupancy was 49 percent at the time of closing. In the second transaction, Big Y Distribution Center, a 217,000-square-foot warehouse located in Chicopee, traded for $4.5 million. The property is fully occupied by the Big Y Foods supermarket chain. RBJ's Frank Petz and John Wilson represented LNR Partners, which was acting as special servicer for the properties' lender, in both deals. RBJ will also be providing leasing services for Billerica Business Center.
LONG BEACH AND HAWTHORNE, CALIF. — Strategic Storage Trust has acquired two Los Angeles Country self-storage properties, totaling approximately 1,600 units, for a combined $26 million in an all-cash transaction. Built in 1999, the 87,000-square-foot property at 8150 E. Wardlow Road in Long Beach consists of four buildings with approximately 830 units. Built in 2004, the two-building facility located at 12714 S. La Cienega Blvd. in Hawthorne has approximately 770 units. Bancap Self Storage Group’s Dean Keller represented the publicly registered, non-traded REIT in its purchase of the properties, which will be re-branded under the SmartStop Self Storage trade name.
LOS ANGELES — Colliers International has completed the $1.375 million sale of a cold-storage building, located at 18425 Parthenia Place in the Northridge area of Los Angeles, to Jels Parthenia LLC, owner of Ideal Meat & Provisions. Built in 1963, the property offers 11,400 square feet of cold-storage, 1,700 square feet of office and 2,000 square feet of warehouse space. Collier’s Jeff Albee and Jeff Gould represented the seller in the transaction, and Bruce Simpson of Delphi Business Properties represented the buyer.
LINCOLNSHIRE, ILL. — Glentronics has completed the disposition of a 40,009-square-foot industrial property within the Lincolnshire Business Center in Lincolnshire. Dynomax purchased the property, which is located at 640 Heathrow Dr., for an undisclosed price. Built in 1988, the property features four interior loading docks and 3,781 square feet of office space. Keith Puritz, Brett Kroner, Ryan Bain and Zach Graham of CB Richard Ellis represented the seller; Patrick Shannon of Darwin Realty represented the buyer in the transaction.
CHICAGO — Summit Design + Build has completed a remodel of Pastorelli Food Products' existing 24,000-square-foot manufacturing facility, which is located at 901 W. Lake St. in Chicago's West Loop. The remodel included converting portions of the existing two-story timber building to a steel-frame and concrete-deck bottling and storage facility. Chicago-based Archideas provided architectural services for the project.
VERNON HILLS, ILL. — Principle Construction has completed a 53,000-square-foot renovation project for Probat Burns, a manufacturer and provider of grinding and roasting equipment for the coffee, pharmaceutical and food industries. The company is relocating its headquarter to 601 Corporate Woods Parkway within Corporate Woods Business Park in Vernon Hills from its current location in Memphis, Tenn. The new facility includes a customer training area, a showroom, 7,500 square feet of office space, manufacturing space, warehouse space and 1,500 square feet of engineering space. Principle provided extensive interior and exterior construction services for the renovation project. Timothy Morgan Associates provided architectural services for the project. The property is owned by Mark Kestenbaum of Armon Investments.
FALL RIVER, MASS. — The groundbreaking ceremony has been held for the new HealthFirst Family Care Center in Fall River. The $13 million project will consist of the conversion of a 78,000-square-foot industrial space into a community health canter. The new facility will replace an existing HealthFirst center located on County Street. Completion is expected next December. Skanska USA is serving as project manager and will provide general contracting services along with Columbia Construction. Steffian Bradley is the project architect.
SOUTH WINDSOR, CONN. — Sentry Commercial has brokered the sale of a 68,920-square-foot industrial facility located at 571 Nutmeg Road in South Windsor for $1.77 million. The buyer was Daniel DelMastro, the owner of Aero Med Ltd. The seller was GBR Investments. Sentry Commercial was the sole broker in the deal.
FLOWER MOUND — Nature's Best has leased a 308,000-square-foot distribution center in Lakeside Trade Center at 101 Enterprise Dr. in Flower Mound. The long-term lease at Lakeside Trade Center Building 5 will feature approximately 35,000 square feet of freezer/cooler space. Nature's Best will model the facility after the recent relocation of its main distribution center in Chino, Calif., where the company completed an expansion into a 410,000-square-foot LEED Gold certified building. Nature's Best plans to begin serving retailers throughout Texas from the Flower Mound distribution facility in late spring 2011.