OPELIKA, ALA. — W. P. Carey Inc., a New York City-based net lease REIT, has purchased an industrial property located at 3101 Anderson Road in Opelika for $49 million. W. P. Carey purchased the 703,000-square-foot, Class A logistics facility in a sale-leaseback transaction with JOANN, a sewing and fabrics retailer based in Hudson, Ohio. The property is triple-net-leased to JOANN for a period of 20 years, with fixed annual rent escalations. The cross-dock facility features up to 40-foot clear heights and is on a site that allows for future expansion. The property is located along Interstate 85. Built in 2005, it supplies products to more than one-third of JOANN’s nearly 900 retail locations nationwide.
DALLAS — Integrity Marketing Group, a distributor of life and health insurance products, has signed a 100,000-square-foot office lease for its new headquarters at Fountain Place, a 58-story building in the Dallas Arts District. CBRE’s Josh White and Ryan Buchanan represented the tenant, which will occupy six floors at Fountain Place as part of its relocation from Coppell, in the lease negotiations. CBRE’s Fletcher Cordell, Dennis Barnes and Jackie Marshall represented the landlord, Goddard Investment Group, which recently completed a $75 million renovation at the property. That project included the addition of a 10-story parking garage, retail and restaurant space and a tenant lounge and conference center.
OLATHE, KAN. — 1A Auto has signed a long-term lease renewal for 347,689 square feet of industrial space at Building B within Olathe’s I-35 Logistics Park. Founded in 1999, 1A Auto is an auto parts supplier that caters to consumers completing their own auto repairs. Mark Long and John Faur of Newmark Zimmer represented the tenant in the lease transaction. Kevin Wilkerson of JLL represented the undisclosed landlord.
DALLAS — Locally based brokerage firm Holt Lunsford Commercial has negotiated a 117,047-square-foot industrial lease renewal at 3901 Pipestone Road in West Dallas. According to LoopNet Inc., the property sits on 7.6 acres and spans 176,274 square feet. John Gorman of Holt Lunsford represented the landlord, Prim Turnpike Portfolio LLC, in the lease negotiations. Art Leichner and Andrew Crites with Newmark represented the tenant, New Thermo-Serv Ltd.
ITASCA, ILL. — American Bear Logistics has signed a 57,143-square-foot industrial lease at 1475 Thorndale Ave. in Itasca. The building features 8,838 square feet of office space, 26 docks, one drive-in doors, 24 trailer stalls and a clear height of 28 feet. Nick Krejci of Darwin Realty/CORFAC International represented the tenant in the lease transaction. American Bear Logistics, an ocean freight transportation company, was seeking a larger warehouse near O’Hare International Airport to support growing demand from its customers, according to Darwin.
SAN ANTONIO — Zachry Construction & Materials has signed a 55,718-square-foot headquarters lease at Walker Ranch Business Park, a 150,000-square-foot office development in San Antonio by locally based developer Worth & Associates. The tenant will relocate about 190 employees to Walker Ranch Business Park Building II, which is under construction and scheduled to be complete in August, beginning Nov. 1. Mark Krenger of JLL represented Zachry Construction in the lease negotiations. Following this transaction, Building II is 82 percent preleased.
FAIRFIELD, CONN. — Atlanta-based home improvement retailer Floor & Décor will open its 100,000-square-foot warehouse store and design center in Fairfield, located in the southern-coastal part of the state, on Monday, June 21. About 50 full- and part-time associates will work at the store, which is located at 300 Tunxis Hill Road. Brian Katz of retail brokerage firm Katz & Associates represented the retailer in its site selection and negotiations for the new store, which is one of two Floor & Décor outlets set to come on line in Connecticut this year.
BOWLING GREEN, OHIO — Binkelman Corp. has leased a 59,960-square-foot industrial facility in Bowling Green. The property sits on nearly 20 acres at 828 Van Camp Road. Ron Jurgenson of Reichle Klein Group represented both the tenant and the owner, P&J Thayer Family LP. Brinkelman, which is an industrial equipment supplier currently based in Toledo, will utilize the building for its new headquarters.
VISTA, CALIF. — Lee & Associates has arranged a long-term lease for M2 Ingredients to occupy a single-tenant industrial building located at 1395 Park Center Drive in Vista. The lease is valued at $20.5 million. The 150,000-square-foot building features 20,000 square feet of office space, four dock-high doors, eight grade-level doors and 135,000 square feet of warehouse space with 4,000 amps 277/480-volt power. M2 Ingredients was founded in 2010 and is a producer of certified mushroom powders with a full spectrum of bioactive compounds to support health, sport performance, recovery and cognition. The new facility will serve as the company’s corporate headquarters and main warehouse for the manufacturing and distribution of its products. Marko Dragovic, Isaac Little and Tim Moore of Lee & Associates – North San Diego County represented the tenant, while Aric Starck and Brant Aberg of Cushman & Wakefield represented the landlord, Alpha Industrial Properties, in the transaction.
WHITESTOWN, IND. — Green Rabbit has leased 187,941 square feet of cold storage space in Whitestown near Indianapolis. The newly constructed facility is located along I-65. Tony Hupp of Colliers International represented Green Rabbit, which is a Massachusetts-based supplier of cold storage transportation. Becknell Industrial owns the property.