MILWAUKEE — Founders 3 Real Estate Services has brokered the sale of a 98,600-square-foot industrial building in Milwaukee for $5.2 million. The property is located at 11925 W. Carmen Ave. Andy Hess and Derek Yentz of Founders 3 represented the seller, HK Ventures LLC. BIG Acquisitions LLC, a division of Brennan Investment Group, purchased the facility, which is fully leased to Hilmot.
PISCATAWAY, N.J. — Third party logistics provider Hall’s Warehouse Corp. has renewed its 135,000-square-foot industrial lease in Piscataway, a southwestern suburb of New York City. The property is situated within Rutgers Industrial Center, a five-building, 535,000-square-foot complex located at 120 Circle Drive N. The tenant has leased space at the property since 2003. Brian Dudzinski of Atlantic Real Estate Services represented Hall’s in the lease negotiations. Levin Management Corp. is the asset manager of the complex.
WALLINGFORD, CONN. — O,R&L Integrated Services has negotiated a 20,079-square-foot industrial lease for Consolidated Electrical Distributors Inc. (CED) in Wallingford, a northern suburb of New Haven. The space is located at 34 Barnes Industrial Road S. in a warehouse building that features 22-foot clear heights and one 7.5-ton bridge crane. CED will utilize the space for additional storage, supporting its primary Wallingford manufacturing and distribution facility. Red Bull Distribution Co. is the other tenant of the building, with 31,141 square feet. Frank Hird of O,R&L represented CED in the lease negotiations. Hird also represented the landlord, a partnership between ADM Wallingford LLC and Tremblant Enterprises LLC.
BONDURANT, IOWA — Amazon has unveiled plans to open its first fulfillment center in the state of Iowa in the city of Bondurant, which is northeast of Des Moines. Amazon expects to create 1,000 full-time jobs at the 645,000-square-foot warehouse. Workers will work alongside Amazon robotics to pick, pack and ship small items such as books, electronics and toys. A timeline for completion was undisclosed.
TORRANCE, CALIF. — Alpine Electronics of America has completed the sale of an 108,186-square-foot industrial investment property located at 19145 Gramercy Place in Torrance. IDI Logistics acquired the asset for $21.5 million. The buyer plans to refurbish the concrete tilt-up building, which is located on more than 5.5 acres of land, before placing the property on the market for lease. The building served as the seller’s American headquarters before its relocation to Auburn Hills, Mich. Alpine Electronics is an automotive electronics manufacturer that provides consumers and leading automakers with audio, video, navigation and driver assistance products. Todd Taugner, Frank Schulz III and David Prior of The Klabin Company/CORFAC International represented the seller and buyer in the deal.
WALLINGFORD, CONN. — Red Bull Distribution Co. has signed a 31,141-square-foot industrial lease in Wallingford, a northern suburb of New Haven. The space is located at 34 Barnes Industrial Road S. in a warehouse building that features 22-foot clear heights and one 7.5-ton bridge crane. James Panczykowski of JLL represented Red Bull in the lease negotiations. Frank Hird of O,R&L Integrated Services represented the landlord, ADM Wallingford LLC.
MICHIGAN CITY, IND. — Mohr Capital has begun development of a 200,000-square-foot office and warehouse facility for GAF Materials Corp. in northern Indiana’s Michigan City. Larson-Danielson Construction is serving as general contractor for the project, which is slated for completion in December. Bank of Texas provided project financing. GAF is a subsidiary of Standard Industries. Gary Horn of Mohr and Mike Maratea of Standard Industries negotiated the ground lease and lease agreement before construction began.
BURR RIDGE, ILL. — Cawley Chicago has brokered the sale of a 42,235-square-foot warehouse in Burr Ridge, a southwestern suburb of Chicago. The sales price was undisclosed. Located at 60 Shore Drive, the facility features approximately 5,000 square feet of office space and a ceiling height of 18 feet. Joshua Hearne of Cawley Chicago represented the seller, Barnett Capital. He also procured the undisclosed buyer.
BENSENVILLE, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial V LP, has acquired a 36,080-square-foot industrial building located at 236 William St. in Bensenville. The purchase price was undisclosed. At the time of sale, the multi-tenant building was fully leased, but a 14,068-square-foot portion will become available in September. Constructed in 1965, the property features five docks, four drive-in doors, parking for 40 cars and a clear height of 16 feet. Venture One plans to make improvements to the 14,068-square-foot space. Phil Reiff of JLL represented the seller and will be retained by Venture One as the leasing agent.
EL CAMPO, TEXAS — Atlanta-based Stonemont Financial Group has launched Phase I of Southwest International Gateway Business Park, a 540-acre industrial development in El Campo, located about 70 miles southwest of Houston. The rail-served development has the capacity to house up to 8 million square feet of industrial space. Phase I, construction of which is scheduled to begin this quarter, will include a 125,000-square-foot distribution center that is preleased to Vitro Chemicals and a 200,000-square-foot speculative warehouse. Atlanta-based developer Ridgeline Property Group is partnering with Stonemont on the project, and NAI Partners will handle leasing of the property.