LYNDHURST, N.J. — Nemo Tile has signed a 30,046-square-foot industrial lease in the Northern New Jersey community of Lyndhurst. The lease term is 65 months. The building at 2 Terminal Road was recently renovated and features a clear height of 18 feet, seven truck parking spaces and 1,800 square feet of office space. Michael Schaible and Troy Wisse of Lee & Associates represented the landlord, Woodmont Industrial Properties, in the lease negotiations. Daniel Reider of Newmark represented the tenant.
ELK GROVE VILLAGE, ILL. — Transportation company Midwest Express has signed a 40,320-square-foot, full-building industrial lease at 1850 Arthur Ave. in the Chicago suburb of Elk Grove Village. The property features 24 exterior docks and 29 trailer spots. Chris Nelson of Lee & Associates represented the owner, RREEF America. Calvin Gunn of Lee & Associates represented the tenant, which is relocating from Mount Prospect.
ITASCA, ILL. — Lee & Associates of Illinois has brokered the $6.2 million sale of a 59,778-square-foot industrial building in Itasca. The property is located at 700 District Drive. Jeffrey Janda of Lee & Associates represented the seller, Levi Holdings. The buyer, Venture One Real Estate, purchased the building pre-leased to Premistar, an HVAC contractor. Cal Payne of CBRE represented Premistar, and Michael Clewlow represented Venture One on an internal basis.
WEST SACRAMENTO, CALIF. — Lee & Associates has arranged the sale of a heavy industrial-zoned property at 3961 Channel Drive in West Sacramento. Yara North America sold the asset Greencycle Properties, an affiliate of Teichert Inc., for $17.9 million. Alex Weiss and Greg Pieratt of Lee & Associates represented the seller in the transaction. The site, which was formerly used by Yara International as a fertilizer supply port, was decommissioned a year ago. Situated on 23.4 acres, the asset includes one existing building, rail spurs, 5.5 acres of undeveloped industrial land and direct access to the Sacramento Deep Water Ship Channel.
FLOWER MOUND, TEXAS — A partnership between Hopewell Development and MBK Industrial Properties has broken ground on Lakeside Business Center, a 123,910-square-foot building in Flower Mound, a city located in the northern-central part of the metroplex. Lakeside Business Center will consist of two buildings with 32-foot clear heights, a 200-foot shared truck court, ESFR sprinkler systems and a total 16 dock doors and two ramped doors. Lee & Associates is marketing the development for lease and/or sale. Completion is scheduled for summer 2025.
HOUSTON — Alterra IOS has acquired two industrial outdoor storage sites totaling 7.2 acres in the eastern Houston suburb of Baytown. The sites at 8121 and 8223 Parkside Ave. are located within Bay 10 Business Park and house a combined 50,000 square feet of warehouse space. Lee & Associates brokered the sale. The seller and sales price were not disclosed. Alterra IOS plans to make capital improvements into the sites, including adding speculative office space and a reinforced concrete yard at 8121 Parkside.
NEW YORK CITY — Lee & Associates has brokered the $6.8 million sale of a 37-unit apartment building in the Brooklyn Heights neighborhood. The six-story, rent-stabilized building at 75 Pierrepont St. consists of 25 one-bedroom apartments and 12 studios that were fully occupied at the time of sale. Thomas Gammino and Patrick Donahue of Lee & Associates represented the buyer and seller, both of which requested anonymity, in the transaction. The deal traded at a cap rate of 6.2 percent. The deal traded at a cap rate of 6.2 percent.
ALSIP, ILL. — Bossard, a fastener distributor, has renewed its 68,310-square-foot industrial lease at 11800 S. Austin Ave. in Alsip. The 162,000-square-foot warehouse was constructed in 2005. Brian Vanosky, Michael O’Leary and Dylan Maher of Lee & Associates represented the owner, Cabot Properties. Ken Franzese, John Cassidy and Jim Martin of Lee & Associates represented the tenant.
JOLIET, ILL. — RJW Logistics Group has signed a 639,917-square-foot, full-building industrial lease at 275 W. Laraway Road in Joliet. Jeffrey Galante and Jeffrey Janda of Lee & Associates represented the owner, Pritzker Realty Group. Dominic Carbonari of JLL represented the tenant. PRG recently completed the property.
ITASCA, ILL. — Lee & Associates of Illinois has arranged the sale of a 101,577-square-foot industrial building located at 701 Rohlwing Road in Itasca. The sales price was undisclosed, but the transaction marks the largest user sale in the O’Hare submarket this year by both sales price and square feet, according to Lee & Associates. Jeffrey Janda and Jeff Galante of Lee & Associates represented the seller, a private owner. Chris Nelson and Calvin Gunn of Lee & Associates represented the buyer, TR Property Management.